Monday, 27 March 2017
Military News

DND partners with BCDA to help fund AFP modernization

modernizationCamp Aguinaldo, Quezon City – The Department of National Defense (DND) and the Bases Conversion and Development Authority (BCDA) signed a Memorandum of Agreement (MOA) yesterday to manage unused and idle assets to help raise funds for the ongoing Armed Forces of the Philippines (AFP) Modernization Program.

Defense Secretary Delfin Lorenzana explained that the AFP possesses land properties that can be leased or jointly developed.

Republic Act No. 10349, otherwise known as the “Revised AFP Modernization Act” provides that the AFP Modernization Act Trust Fund may be sourced from the proceeds of the sale, lease or joint development of military reservations, as may be authorized by the President.

According to the MOA, the BCDA is designated as one of the “disposition entities” for unused military camps/ reservations specifically identified by the DND and AFP to raise funds for the modernization program, pursuant to Section 6 of RA 10349.

The said agreement is in line with the DND’s thrust under the Philippine Defense Transformation Roadmap 2028 to optimize the department’s financial resources in support to the DND’s strategic focus, which is the attainment of a more credible defense posture for security and stability, national peace, and economic development.

Secretary Lorenzana signed in behalf of the DND, while Mr. Vivencio B. Dizon, President and Chief Executive Officer, signed for the BCDA.

Senator Richard J. Gordon, Chair of the Senate Committee on Government Corporations and Public Enterprises and BCDA Chair Gregorio D. Garcia III were also present during the signing ceremony.

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