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THE European Union will double its aid to the Philippines for the period 2014-2020 to 325 million (P17 billion) from 130 million (P7 billion) to implement the bloc's development programs in the country.

In a statement, the Delegation of the European Union to the Philippines said the EU and its member-states embassies launched on Tuesday the 2015 Joint EU-Philippines Development Report.

It will highlight their development cooperation programs implemented over the last three years while also setting out their priorities for the period from 2014 to 2020.

The 2014-2020 plan will focus on two key areas: the rule of law and inclusive growth through sustainable energy and job creation.

"The new strategy will address governance and climate change which are key areas of the new global sustainable development goals which are expected to replace the MDG's [Millennium Development Goals] this year," the statement said.

"The European Union will continue to direct a more than proportional amount of its assistance to Mindanao as part of its contribution to the peace process," it added.

To finance these "ambitious goals," National Economic and Development Authority (Neda) Deputy Director General Rolando Tungpalan and EU Ambassador Guy Ledoux signed a letter to confirm the new seven-year EU support strategy.

"The significant increase in aid has been granted in the context of the progressive improvement of governance under the current administration. Emphasis will be on achieving concrete results and maximizing the impact of the EU funding provided to the benefit of Filipinos across the country," Ledoux said.

The decision to more than double EU's development assistance to the Philippines, which follows just weeks after the granting by the EU of GSP+ status to the Philippines in line with the EU's strategy to support poverty reduction using the tools of both aid and trade.

The granting of the GSP+ and its related tariff reductions in December 2014 will create many thousands of jobs for Filipinos in the Philippines directly contributing to poverty reduction.

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EU doubles development assistance to PHL