The LGU that has the initiative and moves fast can benefit from various forms of foreign assistance pouring into the country.
The Canadian government through the Canadian International Development Agency (CIDA) has recently announced it is making P700M available to local government units in the Philippines to sustain the Local Governance Support Program for Local Economic Development (LGSP-LED).
Although the Autonomous Region of Muslim Mindanao is the priority target of the assistance package LGUs from depressed regions may apply for allocations provided they are able to come up with adequate justification.
The Canadian fund is intended to stimulate local economic development for poverty reduction according to the Canadian embassy.
It is intended also to create better and decent employment for the poor, expand tax basis which ultimately will lead to increased revenue collection and improved services within the local government.
