THE Bangsamoro Normalization Trust Fund (BNTF) will help former combatants and their communities attain peace and prosperity, according to the World Bank.
On Wednesday, the World Bank and their development partners such as the Bangsamoro Autonomous Region in Muslim Mindanao, the national government, and embassies launched the BNTF.
In his welcome remarks, World Bank Country Director for Brunei, Malaysia, the Philippines, and Thailand Ndiame Diop said the BNTF will operate as a pooled fund composed of a multidonor trust fund (MDTF), administered by a third party suitable to the Government of the Philippines (GPH) and Moro Islamic Liberation Front (MILF).
“The BNTF is about funding transformation—transforming former combatants and their communities into productive elements of Bangsamoro society,” Diop said.
Diop said the BNTF will help finance, coordinate, and oversee delivery of assistance from international partners and other donors in the implementation of the normalization process.
These will be dedicated to the rehabilitation, reconstruction and development of Bangsamoro communities with special regard to decommissioned MILF combatants and their communities, and vulnerable sectors.
The fund will also finance efforts to assist MILF combatants and their communities and develop six previously acknowledged MILF camps with the 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 [Robinson], and the European Union, thanks [Head of Cooperation] Christoph [Wagner],” Diop said.
The creation of the Bangsamoro Normalization Trust Fund (BNTF) was mutually agreed upon by the Government of the Philippines and the MILF in the Annex on Normalization of the Comprehensive Agreement on the Bangsamoro (CAB), which the parties signed on January 25, 2014.
The World Bank was selected as the international administrator of the fund by agreement of the respective GPH and MILF Joint Implementing Panels.