6 October 2005, Paris, France – The Philippines today gained the support of a key United nations Agency for its initiatives that would help relieve the debt burden of developing countries and that would promote greater peace, understanding and tolerance through greater interfaith dialogue.

Romulo bared UNESCO's support for the key Philippine initiatives following his meeting with UNESCO Director General Koichiro Matsuura at the UNESCO
headquarters here Thursday. Romulo welcomed Matsuura's position, saying it was a "significant step" towards securing global peace and equitable development.

During the meeting, Matsuura said that UNESCO is in favor of debt swap arrangements. He also said that UNESCO is currently exploring ideas with creditor countries and financial institutions about debt swap, specifically for education, Romulo said.

"By expressing support for our key twin initiatives, UNESCO is using its valuable moral influence to assist indebted developing countries achieve peace and development goals, specifically through education, science and culture," Romulo said.

"This is a recognition of the viability and acceptability of our initiatives. Director General Matsuura's pronouncement provides further impetus to our twin initiatives and we hope to further consolidate international support behind debt-for-equity and interfaith dialogue," Romulo said.

Secretary Romulo explained that the amount allocated to debt servicing could be used to help developing nations achieve the United Nations' 2015 Millennium Development Goals, particularly in the field of education.

Romulo also asked Matsuura's support for the Philippines as the Asia Pacific Center for Lifelong Learning for Sustainable Development.

Secretary Romulo pointed out that in the Philippines' case, it will devote a third of its national budget next year, amounting to over PhP 300 billion, to service interest payments. The Philippines' foreign debt now stands at an estimated US$50 billion.

During a recent UNESCO open forum, the Philippine Permanent Delegation suggested that developing countries create a UNESCO working group that will propose areas and modalities for the Organization's potential leadership in negotiating debt swaps for education, science and culture on behalf of its heavily indebted Member States.

The suggestion follows the Philippine initiative spearheaded by President Gloria Macapagal Arroyo during the United Nations World Leaders' Summit in September.

The initiative drew the support of several world leaders and UN Secretary General Kofi Annan.

Secretary Romulo also welcomed Matsuura's "unequivocal support" for greater international cooperation on interfaith dialogue, consistent with UNESCO's central role in the promotion of cultural diversity.

Romulo said, Matsuura expressed appreciation for President Arroyo's gesture in bringing UNESCO into the fold of this important initiative. Matsuura also stressed that continuous follow-up on this initiative is crucial.

Matsuura had accepted President Arroyo's invitation to attend the informal summit on interfaith dialogue at the UN World Leaders' Summit last September.

The informal summit succeeded in uniting World leaders behind a global interfaith dialogue agenda through a declaration calling for greater inter-religious, inter-cultural and inter-civilizational dialogue and cooperation to ensure a lasting and durable peace and understanding at the global, regional and national levels.

UNESCO, which is commemorating its 60th anniversary this year, is the specialized United Nations agency promoting international cooperation in the fields of education, science, culture and communication.

The Philippines has been an active member of UNESCO since 1946. END