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MANILA, Philippines – The Philippines has secured a $60-million compact grant from the United States Millennium Challenge Corp. (MCC) to help modernize energy sector governance, according to the Department of Finance (DOF).
The grant falls under the MCC’s Threshold Program, which provides time-limited assistance to developing countries to support strategic reforms, institutional strengthening, and economic modernization.
READ: Millennium Challenge makes way back to PH
A compact grant is a five-year agreement between the MCC and an eligible country.
