ADB grants P1B loan to anti-trust body

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    The Asian Development Bank (ADB) has approved a $23.3 million (P1 billion) loan to a six-year project that will boost the country’s competitive environment, narrow the gap on competition expertise in the country and build a domestic knowledge base for the effective implementation of the competition law.

    The project, to be undertaken by the Philippine Competition Commission (PCC) is aimed at strengthening the antitrust authority’s institutional capacity, while furthering the culture of competition in other government agencies and in the academe.

    “The PCC recognizes that its success as a young agency rests in its ability to strengthen the skills and competencies of its staff, work inter-operably across its network of competition champions and enforcers, and vigorously engage the public and private sectors in competition advocacy. The project is strategically designed to address these three broad factors,” said PCC chairman Arsenio Balisacan at yesterday’s launch of the “Capacity Building to Foster Competition Project.”

    The project will tap local and international expertise for training and advisory services to strengthen PCC’s ability in competition enforcement, research, and advocacy.

    The project’s second goal is to advance knowledge in competition law and policy through staff development via at least 200 short courses or grants, at least 40 degree scholarships, and numerous exchange programs. The targeted beneficiaries will be from the PCC and its partner agencies, the National Economic and Development Authority, the Department of Justice-Office for Competition and the Office of the Solicitor General.

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