$18 million alloted by Canada to help create jobs in the Philippines
Posted on November 15th, 2009
The Canadian government has allotted $18 million in development assistance to help foster job creation in poor municipalities in the Philippines.
This was announced by Canadian Minister of International Trade and Minister for the Asia-Pacific Gateway Stockwell Day. “We are concluding or announcing the $18 million Canadian International Development Agency (CIDA) assistance to work with a number of municipalities to assist them in trading and enhance business atmosphere,” Day said.
He was in the country over the last weekend for the celebration of the 60th bilateral relations between Canada and the Philippines.
The Canadian trade minister said the financial would focus on poor municipal areas, particularly those hardest hit by the recent typhoons in Luzon. “It will have a ripple effect because people in those areas will have opportunities like how to incubate a small business and allow them to grow. We will monitor it and there will be corresponding jobs… geared to opening up the business climate,” Day said.
The project is called “Local Governance Support Program for Local Economic Development” and it aims to improve conditions for local economic development by helping improve corporate management practices and using market-oriented approach in target areas.
The Canadian government will be choosing one province, three cities and 23 municipalities as pilot areas before the program will be implemented throughout the country.
The project will help, on a national level, to develop and implement policies that would help municipalities improve their business environments. At the local level, on the other hand, it will facilitate local economic development with the help of the Canadian Urban Institute and the Association of Canadian Community Colleges.
