SGV to assist GRF in overseeing the USAID/Phil-Am Fund

In pursuit of its commitment to help the Philippines achieve broad-based and inclusive growth, the US Embassy Manila’s United States Agency for International Development (USAID) launched the USAID/Philippine-American (Phil-Am) Fund at the Sofitel Philippine Plaza Manila last 30 September and at the Marco Polo Plaza in Cebu last 2 October 2013.

The USAID/Phil-Am Fund is a five-year, Php 984 million (USD 24 million) grant-making facility that will support all non-state institutions in implementing innovative solutions to address the country’s development challenges. Grants will be used to address five areas: business development and entrepreneurship, governance integrity and transparency, human trafficking, child and adult literacy, and natural resources and environmental management. This is within the context of the current US initiative, Partnership for Growth – a White House Initiative emerging from the US Presidential Policy Directive on Global Development focusing on fostering economic growth in countries committed to good governance.

USAID awarded the Gerry Roxas Foundation (GRF) as the implementing organization of the USAID/Phil-Am Fund facility. GRF selected SGV as a subcontractor to assist in its oversight function with the facility’s management, particularly in the formulation and review of operational and financial policies across the operating and support units of the facility, e.g., evaluation of the design of internal controls, and risk assessment activities at the program and project levels, among others.

Present in the launch were GRF President Judy Araneta-Roxas, US Ambassador Harry Thomas, USAID Mission Director Gloria Steele, Contracting Officer Jorge Dulanto-Hassentein, and Contracting Officer’s Representative Cathy Hamlin. Also present were members of the GRF Board of Trustees including Jorge Araneta, Ramon Magsaysay, Jr., and Avelino Cruz. From SGV, attendees were Risk Advisory partners Leonardo Matignas and Rebecca Sarmenta, senior directors Virgilio Ignacio and Alexander Dacanay, senior associates Jo Anne Illescas and Antonio Chua, and Associate Marco Estrada.