MANILA, Philippines — The Philippines has secured a third tranche of aid from the European Union to fund peace initiatives in restive parts of Mindanao and the delayed rehabilitation of conflict-torn Marawi City. In a statement on Monday, the finance department said 24.5 million euros (approximately $28.8 million) will be given out by the economic bloc to the country under the peace and development in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) component of the Mindanao Peace and Development Programme. The third grant finances a large part peace program worth 35.1 million euros. Under the agreement, EU will fund 24.5 million euros, while the World Bank, United Nations and Australia contribute a combined 10 million euros. Another 3 million euros, meanwhile, will go to coronavirus-related programs of BARMM.

Source: Philippine Star August 24, 2020 05:15 UTC