President Noynoy Aquino: Spends Php25,000,000 and brings home $434 Million Millenium Challenge Corp. Grant

Whoop-dee-doo!

Well, this certainly beats that hotdog eating stunt and President Noynoy Aquino's flaccid speech at the United Nations this morning.

The $434 Million grant given to the Philippines, a grant that was reportedly denied to President Gloria Arroyo, is supposed to go to:

Of the total amount, $214.4 million will be used to rehabilitate 222 kilometers of the Samar Road. It will connect 15 towns of one of the country’s poorest provinces and reduce transportation costs for farmers, fishers and small businessmen who bring their goods to the markets.

“(The) investment will increase commerce in and between the provinces of Samar and Eastern Samar, and ultimately increase incomes,” the MCC said in a brief.

Some $120 million will go to the Kabisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Service project for building water systems, clinics and school buildings.

Approximately $54.4 million will be used to computerize the collection of taxes by the Bureau of Internal Revenue. The MCC said the project “addresses the need to raise tax revenues and reduce tax evasion and revenue agent-related corruption.”

I think the Aquino Administration ought to be extremely diligent in reporting how this money will be spent, sayang kung mananakaw lang.