Finance subpanel for Marawi rehab task force formed
The Department of Budget and Management (DBM) is leading a subcommittee of Task Force Bangon Marawi, along with the Department of Finance (DOF) and National Economic and Development Authority (NEDA), that will formulate the guidelines for the donations, grants and assistance intended for the rehabilitation of the war-torn city in Mindanao.
In the recent DOF Executive Committee (Execom) meeting, it was reported to Secretary Carlos Dominguez III that the Sub-Committee on Finance and Resource Mobilization Working Group was scheduled to meet soon to mull over the financial component of this multi-year reconstruction program.
The government agencies concerned agreed that all sources of funding for the rehabilitation and reconstruction of the city should be cleared first by Task Force Bangon Marawi.
The DOF International Finance Group (IFG) reported to Dominguez during the Execom meeting that the ongoing post-conflict needs assessment (PCNA) in the area would be the basis for the preparation of the Marawi Comprehensive Recovery and Rehabilitation Plan.
The post-conflict needs assessment (PCNA) team, led by the Office of Civil Defense-Department of National Defense (OCD-DND), was dispatched on Oct. 16. The activities of the PCNA, which started in July, will culminate in a final report that is presently being done by OCD-DND.
To ensure presence on the ground, a Task Force Bangon Marawi headquarters will be established in the city.
Dominguez said earlier it was too early to make cost estimates on the damage to the city, adding the reconstruction plan would be the basis of how much would be needed to fund Marawi’s reconstruction and rehabilitation.
He urged Filipinos to be more involved in the reconstruction of the city amid the influx of foreign aids and assistance.
He earlier directed the Bureau of Treasury to study the possible issuance of P30 billion-worth of debt securities to help fund the planned massive rehabilitation and reconstruction effort for Marawi City.
Dominguez said the “Marawi” bonds would appeal to the “patriotic” sense of duty of citizens who would like to help rebuild the lives of their fellow Filipinos in Marawi.
“These are what you would call ‘patriotic’ bonds to help augment the funds that the government has set aside for Marawi’s rehabilitation,” Dominguez said.
President Rodrigo Duterte declared the liberation of Marawi City from the influence of Muslim extremists believed to have links with ISIS last Oct. 17. DMS
