Philippine: ADB extends $500,000 grant to treasury

The Asian Development Bank (ADB) has extended $500,000 in technical assistance grant to the Philippines to improve the staff capacity of the Bureau of the Treasury (BTr) in securities dealing, processing, as well as in asset management. The ADB grant will help finance the project titled Strengthening Treasury Operations and Capital Market Reform which will hire a consultant to conduct the training of the BTr staff. In a document updated by the ADB last week, the consultant will work with the BTr staff for 22 working days starting January 2015. Funding was approved by the ADB Board in September 2014. ‘The expert will work with BTr’s government debt resident adviser and assist BTr in implementing its updated organisation structure as well as launching BTr’s newly developed investment and risk management functions. The expert will, likewise, strengthen BTr’s dealers by increasing their technical capacity through on-the-job training,’ the ADB document stated, according to abs-cbnnews.com