(Photo courtesy of DOF)
The Department of Finance (DOF) has endorsed a proposed USD 20-million (approximately Php 1.2 billion) grant from the United Arab Emirates (UAE) to the Office of the President to support the rehabilitation of the Pasig River.
In a statement Thursday, the DOF said it is seeking authority to negotiate an agreement with the UAE government for the proposed funding, which would support the Pasig River Restoration Project (PRRP).
The initiative aims to reduce plastic and organic waste entering the Pasig River system by 25 percent over five years through improved waste management, collection and enforcement measures.
The project will focus on waste recovery and interception, household waste segregation and collection, and the development of more efficient waste processing and recovery systems.
It will also provide capacity-building assistance to informal waste collectors while strengthening enforcement against illegal dumping along the river system.
Unlike loans, grants are forms of development assistance that do not require repayment, allowing the government to implement environmental projects without incurring additional debt.
The DOF said it is seeking the necessary authorization to negotiate the terms and conditions of the proposed agreement with the UAE government.
Once approved, the department will coordinate with concerned government agencies to facilitate negotiations and finalize the funding arrangement.
Finance Secretary Frederick Go welcomed the UAE government’s proposed assistance, describing it as an important contribution to efforts to restore one of the country’s major waterways.
“We thank the Government of the United Arab Emirates for extending its hand in partnership with us to rehabilitate one of our country’s vital waterways. The proposed assistance would strengthen waste management efforts and help improve the quality of life of our people,” Go said.
The DOF said the initiative reflects the Marcos administration’s efforts to strengthen international partnerships and secure grant financing for sustainable development projects.
The proposed funding is expected to support long-term waste management improvements and environmental rehabilitation efforts aimed at reducing pollution in the Pasig River.
The grant remains subject to the required government authorization and negotiations between the Philippines and the UAE.
