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Bangsamoro region after President Rodrigo R. Duterte signed the Bangsamoro Organic Law (BOL) last week,
"The signing of the Bangsamoro Organic Law and its implementation are critical to achieve long lasting peace in the region, and we are committed to scale "said Mara Warwick, World Bank Country Director for Brunei, Malaysia, the Philippines and Thailand in a statement on Tuesday.
The BOL will allow the Bangsamoro Autonomous Region in Muslim Mindanao to have its own government with expanded powers of taxation. President Rodrigo R. Duterte pledged the Muslim community in the southern Philippines to resolve long-standing conflicts.
"This is a significant milestone towards achieving stability in the region. The Law creates new opportunities for sustainable peace in Mindanao, "The World Bank said."
Currently, the bank is supporting the peace process between the Philippines and the Moro Islamic Liberation Front through the Mindanao Trust Fund ( MTF)
The MTF pooled together P1. 4 billion gold $ 29.9 million as of 2017, which translated into 573 infrastructure and social projects
In April, the World Bank and Spanish Agency for International Development Cooperation provided an additional $ 3.2-million grant funding to the MTF.
The World Bank also recalibrated its Country Partnership Strategy for the Philippines to deepen its focus on the Mindanao region, to boost financing pr ograms for improving agricultural productivity and connectivity; boosting education, skills, and employability of youth;
"Besides the MTF, the World Bank has supported community-driven development, social protection, education, infrastructure, and rural development projects," the World Bank said. 19659003] "The World Bank has been a long-time partner in supporting peace and inclusive growth in Mindanao. We welcome the news and look forward to continue working with the Government of the Philippines and the Moro Islamic Liberation Front in support of sustainable peace and development in Bangsamoro and the entire Mindanao region, "said World Bank Vice President for East Asia and Pacific Victoria Kwakwa. – Elijah Joseph C. Tubayan
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