MANILA, Philippines (Xinhua) - The Philippine government on Friday secured a five-year 434 million U.S. dollar anti-poverty grant from the Millennium Challenge Corp. (MCC), a statement of the U.S. state firm said.

Aimed at reducing poverty through economic growth, the compact is intended to support reforms and investments to modernize the Bureau of Internal Revenue, expand and improve a community-driven development project, Kalahi-CIDSS, and rehabilitate a secondary national road in Samar province in Central Philippines.

Among its major projects are: the Revenue Administration Reform Project which will focus on increasing the efficiency and sustainability of revenue collection through a redesign and computerization of business processes; the Kalahi-CIDSS project which plans to build infrastructure like water systems, clinics, and schools in select poor communities; and the Secondary National Roads Development Project which will build and repair 222 kilometers of Samar Road to reduce transportation costs and increase commerce between the provinces of Samar and Eastern Samar.

"The Philippines compact is a results-focused program promoting sustainable economic growth. This example of country-designed solutions strives to move the poor from poverty to prosperity," MCC Chief Executive Officer Daniel Yohannes said in the statement.