Wednesday, August 5, 2020

AfDB Approves $ 26.5 Million Loan To Help Local Government Increase Revenue

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The skyline of Metro Manila seen from Pasig City on April 1, 2020. Mark Demayo, ABS-CBN News / File

MANILA – The Asian Development Bank announced Monday that it has approved a $ 26.5 million (1.3 billion peso) loan to help local communities adopt digital tools to boost their incomes.

The funds have been allocated to new local property tax assessment and collection tools for transparent and accurate reporting, updating tax maps and property assessment assessments, the lender said in a communicated.

“Local governments play an essential role in reducing poverty. Mobilizing local revenues efficiently, fairly and transparently is vital to the goal of local governments to provide accessible and quality public services, ”said Robert Boothe, AfDB Senior Public Management Specialist for Asia South East.

The new project will provide the digital tools, systems and training for local staff to help local governments increase their income, “he added.

The AfDB said it has supported the country’s efforts to improve the efficiency of LGU’s financial management and service delivery since 2006.

ANC, ANC Top, ADB, Asian Development Bank, AfDB Loans, LGU, Property Assessment, Appraisal, Financial Management

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