Trump shuts down MCC aid to PH

With United States (US) President Donald Trump shutting down the Millennium Challenge Corp. (MCC), the threshold program that the US aid agency had been developing with the Philippines will no longer push through.

- BY BEN ARNOLD DE VERA

But Finance Secretary Ralph G. Recto, the Marcos administration's chief economic manager, told Manila Bulletin on Thursday, May 1, that this development is "not a concern" for the Philippine government.

Recto disclosed that the Department of Finance (DOF) has been informed of the Trump administration's decision to shutter MCC.

"But it's not a concern. Today, we're not getting anything from MCC," the Finance chief pointed out.

"So we don't lose anything," he added.

Before Trump returned to the White House in late January, MCC, back in December last year, said it was moving forward with its planned smaller-scale grant assistance for the Philippines, despite the country's failure in weeding out corruption.