Cagayan de Oro economic climate gets a boost

By Elaine O. Ratunil

Wednesday 4th of July 2012

CAGAYAN DE ORO CITY, July 4 -- The bustling economy of Cagayan de Oro City is expected to be even stronger in the coming months with the implementation of a US funded program.

Mayor Vicente Emano has signed a memorandum of understanding (MOU) with USAID Mission Director Gloria Steel for the implementation of the United States Agency for International Development’s (USAid) Cities Development Initiative (CDI).

The MOU signing, which was witnessed by US Ambassador Harry K. Thomas, signals the coming of more developments to the city not only in terms of business but also in other areas like education, health, infrastructure and environment, among others.

The CDI is a five-year program, which is in line with the thrust of the USAID to provide assistance to local government units (LGUs) to improve its economy and provide more employment opportunities. The city has been selected as one of the three cities in the country as pilot city for the project.

Mayor Emano expressed optimism that the program will boost efforts of the city towards development and progress. “Dakong garbo ug dungog sa dakbayan nga mapili isip pilot area sa maong proyekto, ug ako naga-panghinaut nga ang taas nga pagsalig sa USAID makatabang sa dugang paglig-on sa atong ekonomiya ug dagan sa negosyo,” (This is an honor and big boost to the city to be chosen as pilot area of the said project and I’m hoping the high confidence of USAID would help improve the strength of our economy and business) Mayor Emano said in a press statement.

Under the program, the city will be receiving a package of assistance, which will benefit city residents and those from neighboring areas. (LCR/CdeOSP/PIA10)