World Bank launches trust fund to ‘normalize’ BARMM

Washington-based multilateral lender World Bank on Wednesday launched a multi-donor trust fund for the “normalization” of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

At the virtual launch of the Bangsamoro Normalization Trust Fund (BNTF), World Bank country director for Brunei, Malaysia, the Philippines, and Thailand Ndiame Diop said Presidential Adviser on the Peace Process Secretary Carlito Galvez Jr. - through a special presidential authority - signed a memorandum of understanding (MOU) with the World Bank on March 19, 2021.

The MOU tasked the bank to create a multi-donor trust fund, called the BNTF, to which international development partners can contribute resources.

“This is a historic moment that supports and can speed up the country’s momentum towards just and lasting peace in Mindanao as well as strengthen inclusive growth for the entire country. This event is all the more significant that it is happening during this time of the pandemic and as we are all working to help build back better,” Diop said.

“What makes the BNTF quite unique is that it is defined in the Comprehensive Agreement on the Bangsamoro (CAB) as a key instrument to support normalization,” he said.

The BNTF is a pooled funding arrangement composed of a multi-donor trust fund, administered by a third party suitable to the government of the Philippines and Moro Islamic Liberation Front (MILF).

The World Bank was selected as the international administrator of the fund by agreement of the Philippine government and MILF joint implementation panels.

“We are committed to play this role professionally and with a strong sense of purpose, within a strong spirit of collaboration,” Diop said.

“The BNTF, therefore, was envisioned by the Government of the Philippines and the MILF as the main avenue towards which international support to the Normalization process can be channelled. Moreover, the BNTF will also serve as a mechanism for coordination among international friends of the peace process who are actively supporting the Normalization process,” he added.

The World Bank director said that the BNTF has the following specific objectives:

• To finance, coordinate, and oversee the delivery of assistance from international partners and other donors, and the implementation of the normalization process, particularly for rehabilitation, reconstruction and development of Bangsamoro communities with special regard to decommissioned MILF combatants and their communities, and vulnerable sectors

• To assist MILF combatants and their communities achieve their desired quality of life in a peaceful and inclusive manner

• To assist in the development of the six previously acknowledged MILF camps with the end view of transforming these areas into peaceful and productive communities

“We thank our partners that have already pledged their support, including the Government of Australia, thanks Ambassador Steve, and the European Union, thanks Christoph,” Diop said.

Diop said the BNTF aims to transform, through funding, former combatants and their communities into productive elements of Bangsamoro society.

“It is our hope in the Bank that more international friends will join us in this transformation work,” he added. -MDM, GMA News