00:00 The Department of Finance Secretary Benjamin Jochno has expressed appreciation for the
00:04 United States Millennium Challenge Corporation's decision to re-engage with the Philippines.
00:09 The MCC will support the country's policy and institutional reforms through the development
00:14 of threshold programs.
00:16 The move is seen as a vote of confidence in the Marcos administration's commitment to
00:21 democratic governance, human rights and anti-corruption efforts.
00:25 The MCC provides grants to well-governed countries to promote economic growth, poverty reduction
00:31 and institutional strengthening.
00:33 The Philippines had previously received support from the MCC under a compact grant and a threshold
00:39 grant which enhance anti-corruption efforts and strengthen government institutions.
00:44 The national government is ready to collaborate with the U.S. government to develop and implement
00:49 programs that will drive growth and bring about economic and social transformation for
00:54 the Filipino people.
00:56 Mhm.
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