The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand R. Marcos, Jr., approved four “high-impact” projects and revisions to two existing projects on Friday, with a total value of approximately P269.7 billion.
Two of the projects approved at the NEDA Board’s 10th meeting are to be financed via a public-private partnership scheme, NEDA Secretary Arsenio M. Balisacan said in a statement, noting these projects aim to “boost tourism and address gaps in our healthcare system.”
Key among the approvals is the P4.5-billion upgrade, expansion, operations, and maintenance of the Bohol-Panglao International Airport.
The airport, which is designed to support two million passengers per year, is expected to serve 3.9 million passengers per year once the project is completed, Mr. Balisacan said.
The board also greenlit the P392-million Dialysis Center Project for the Baguio General Hospital and Medical Center.
Addressing the country’s increasing need for hemodialysis treatment, the project aims to more than triple the number of hemodialysis machines at the hospital, which currently has 30 machines, by 2029.
“This will enable the Baguio General Hospital to provide more affordable dialysis treatment to a greater number of chronic kidney disease patients,” Mr. Balisacan said.
Two projects are financed by official development assistance or ODA.
These projects “will augment our green economy initiatives and help speed up and improve infrastructure projects,” Mr. Balisacan noted.
With the goal of “improving and accelerating” the delivery of infrastructure projects, the board approved the P13.08-billion Infrastructure Preparation and Innovation Facility’s Second Additional Financing.
The project is designed to streamline feasibility and design processes for infrastructure projects, according to Mr. Balisacan.
“Before implementing an infrastructure project, it is necessary to conduct feasibility studies, detailed engineering design, and other project preparation activities. Typically, this process takes between 12 to 24 months, increasing the overall implementation time for infrastructure projects,” he noted.
“The Infrastructure Preparation and Innovation Facility speeds up this process by providing DPWH (Department of Public Works and Highways) and DoTr (Department of Transportation) with a better mode for financing and conducting project preparation activities,” he added.
Furthering the government’s commitment to environmental sustainability, Mr. Balisacan said the board approved the Green Economy Program, backed by a P3.62 billion grant from the European Union. The initiative targets waste reduction, increased energy efficiency, and a shift towards a circular economy.
The program will help build the capacity of the national government, local government units, and the private sector to “mainstream and sustain green economy activities, enhance our circular economy, reduce waste and plastic, and increase energy efficiency and renewable energy deployment,” he added.
At the same time, the NEDA Board approved certain changes to two infrastructure projects.
The Bataan-Cavite Interlink Bridge Project, aiming to drastically cut travel time between Bataan and Cavite, saw revisions in its cost and timeline.
The budget has been ramped up to P219.3 billion from P175.6 billion, reflecting adjustments for “superior” construction materials and inflation. The completion date is set for December 2029.
The Cebu Bus Rapid Transit Project will undergo expansions in its scope and infrastructure, pushing its budget to P28.78 billion from P16.3 billion. The project’s timeline extends to December 2027.
The approval of the six projects “reaffirms” the administration’s commitment to “aggressively advance infrastructure development to attain our medium-term development goals of more high-quality jobs and better lives for all Filipinos,” Mr. Balisacan said.—Jomel R. Paguian