Shangri-La’s Mactan Resort and Spa, Lapu-Lapu City, Cebu
10 September 2015
President Benigno S. Aquino III underscored the importance of the Cebu Action Plan (CAP) when he graced the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting (FMM) in Mactan, Cebu.
“I am told that it ticks all the right boxes,” said President Aquino in expressing his optimism on the CAP. Named after one of the most progressive provinces in the country, this plan will accelerate the financial integration among APEC members, with greater transparency in government funds and a renewed commitment to improve and finance infrastructure for continued growth.
“The Cebu Action Plan will also help equip us to respond to some of the gravest threats in our economies in the form of natural disasters, particularly those caused by the new normal of climate change,” he added.
With the Philippines serving as the host of APEC this year, it will champion the CAP. It is a ten-year roadmap created with the goal of building a more financially integrated, transparent, resilient, and connected APEC community.
Bearing the theme “Building Inclusive Economies, the Road to Financial Resilience”, CAP will be officially launched tomorrow, September 11, in Mactan, Cebu.
Joining the President during the welcoming event were Finance Secretary Cesar Purisima and finance ministers from different APEC economies.
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