₱394.96-billion Worth of Infra Projects Lined Up for Review

Approximately 17 infrastructure and development projects listed by the National Economic and Development Authority (NEDA) are expected to be reviewed by the Cabinet’s Investment Coordination Committee (ICC).

These projects are projected to amount to ₱394.96 billion, most of which will be locally funded or financed by official development assistance (ODA) at various stages of the approval process.

As of mid-May, NEDA also identified 26 other projects with a combined worth of ₱1.387 trillion that are being reviewed by the NEDA’s own ICC technical board.

According to NEDA, proposed infrastructure projects are subjected to an initial assessment under their own ICC technical board before being reviewed by the ICC-Cabinet Committee (CabCom). The NEDA Board, which is chaired by President Rodrigo Duterte, then gives the final approval.

From July 2016 to May 2021, the NEDA Board has approved 92 projects amounting to ₱3.87 trillion.

There are eight projects under the Department of Public Works and Highways (DPWH) and three projects under the National Irrigation Administration (NIA) among the proposals being reviewed by the ICC-CabCom. Other projects are implemented by the departments of Agriculture, Agrarian Reform, Education, Social Welfare, Transportation, as well as the Philippine Competition Commission (PCC).

The Laguna Lakeshore Road network project, priced at ₱175.7 billion, is the biggest. This 376-kilometer (km) project is aimed at easing traffic for motorists traveling to Laguna, Rizal, Quezon, and Batangas.

Coming in second is the ₱80.7-billion Davao City Expressway project, which is a 29.21-km four-lane expressway in Davao City also aimed at improving mobility.

Both of these developments are to be funded by ODA.

Also included in the list is the ODA-funded Pasig-Marikina River Basin Flood Management project at ₱28.98 billion and the acquisition of 40 units of weapon-ready fast response boats for the Philippine Coast Guard entailing ₱25.8 billion.

Source: Business World