The Government of Japan approved the “ Strengthening the Department of Finance's Capacity in Revenue Generation and Financial Resource Management Project – Phase 2 ” under the Japanese Non-Project Grant Assistance – Counter-Value Fund (NPGA-CVF) on September 23, 2010.
The 135 million-peso grant (NPGA-CVF) will support the Department of Finance (DOF) to enhance its efficiency and capability in generating, sourcing, and managing domestic and external financial resources of the Philippine Government through improved information assets including computerization and data integration for DOF and its attached agencies such as the Bureau of Internal Revenue and the Bureau of Customs. The project also aims to enhance DOF's information availability for better policy formulation and good governance.
On April 5, 2005, the Government of Japan approved the grant (NPGA-CVF) in the amount of 250 million-peso to fund Phase 1 of the project, which will be complemented by Phase 2.
Japanese Ambassador Makoto Katsura said, “The Government of Japan fully supports the Philippines' efforts to carry out fiscal reforms and thus, would like to contribute to its revenue generation program. We look forward to the success of this project, hoping that it will greatly help the Philippine Government in effectively generating revenues.”
The Counter-Value Fund, which the Philippine Government accumulated by selling the commodities procured under Japan's Non-Project Grant Assistance, has enabled the Philippine Government to implement various projects for its socio-economic development. Notably, the Counter-Value Fund projects include the Personal Computers for Public Schools (PCPS) Project (Phase 1-4) and the project to construct the Philippine Judicial Academy Convention Center of the Supreme Court in Tagaytay City, which was inaugurated in May, 2010.
Japan has been the top ODA donor to the Philippines for many years. The assistance through Japan's Non-Project Grant Assistance and its Counter-value Fund projects will firmly continue to support the Philippine Government to reduce poverty and improve its economic structure, and will further enhance the strategic partnership between the two countries.
Japanese Version
