NEDA Board approves four projects for ODA loan financing worth P117 billion

The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand Marcos Jr., approved four projects which will be financed through official development assistance (ODA) loans, NEDA Secretary Arsenio Balisacan said Friday.

During a Palace briefing, Balisacan said the four projects “proposed to be financed through official development assistance loan financing with a total amount of P117 billion will commence implementation in 2023.”

Among the projects is the New Dumaguete Airport Development Project of the Department of Transportation (DOTr).

Balisacan said the NEDA Board confirmed the Investment Coordination Committee (ICC) approval of the New Dumaguete Airport project.

“Under this project, a new airport facility in Bacong, Negros Oriental will be developed with domestic and international standards for operational safety and efficiency,” he said.

The NEDA chief said the total cost of the project amounts to P17 billion, P13 billion of which will be funded through an ODA loan from the Korean government through the Export-Import Bank of Korea-Economic Development Cooperation Fund.

“The Philippine government, through the DOTr, will shoulder the remaining amount of about P3.9 billion. The project will be implemented within seven years,” Baliscan said.

The New Dumaguete Airport will replace the Dumaguete-Sibulan Airport due to physical and operational constraints involving the latter.

“The New Dumaguete Airport shall enhance the province’s tourism and trade potential, economic activities, and standard of living,” the NEDA chief said.

Also approved by the NEDA Board was the Department of Agriculture’s Mindanao Inclusive Agriculture Development Project (MIADP).

The MIADP aims to increase agricultural productivity, resiliency, and access to markets and services of organized farmers and fisherfolk groups in selected areas.

“The project’s estimated total cost is P6.6 billion, of which P5.3 billion is to be financed through ODA loan from the World Bank, while the balance of P863 million and P461 million will be shouldered by the Philippine government through the Department of Agriculture and LGUs, respectively,” Balisacan said.

The agriculture development project covers selected ancestral domains in Mindanao from Regions 9, 10, 11, 12, 13, and the Bangsamoro Autonomous Region in Muslim Mindanao.

“The project will be pivotal in reducing poverty, unemployment, and food insecurity among indigenous peoples. It will improve the economic situation of the indigenous peoples in Mindanao and further strengthen the capacity of LGUs to implement support programs that address weak market linkages and poor infrastructure in geographically isolated ancestral domains,” the NEDA chief said.

The country’s chief economist added that the NEDA Board confirmed the ICC approval of the first phase of the Integrated Flood Resilience and Adaptation (InFRA) Project of the Department of Public Works and Highways (DPWH).

“The project aims to mitigate flood damage, reduce flood risks, and improve climate resilience in three major river basins in the country,” he said.

“The first phase of this flood resilience project will have the following outputs: the improvement of strategic flood risk management planning; the development of flood protection infrastructure in three target major river basins, namely, Abra, Ranao, and Tagum-Libuganon in the Mindanao; and lastly, the strengthening of community-based flood risk management measures,” he added.

The project has an estimated cost of P20 billion, which will be financed through an ODA loan from the Asian Development Bank.

Lastly, the NEDA Board confirmed the ICC approval of DOTr’s request for changes in scope, increase in cost, and extension of the implementation period for the Metro Davao Public Transport Modernization Project (DPTMP).

“The project involves delivering a modern, high-priority bus system for Metro Davao, wherein interconnected bus services will be prioritized along 29 routes. The implementation period for this project is extended from 2023 to 2029,” Balisacan said.

MRT-3 rehab, CNS/ATM enhancement

Also approved was the increase in the cost of the MRT-3 Rehabilitation project by P7.6 billion, from P21.9 billion to P29.6 billion.

“This project involves upgrading MRT-3 to its original as-designed state with provision for capacity expansion in the future. All subsystems will be restored, renewed, or upgraded, including the tracks, signaling system, power supply system, overhead catenary system, and communications system, as well as maintenance and station equipment,” Balisacan said.

“The project will also involve integrating other MRT-3-related projects, such as the Common Station, the Dalian Trains, and the transition to a 4-car train configuration. This rehabilitation project aims to enhance the safety and level of service of the MRT-3 and to promote its use to help alleviate the worsening traffic congestion in Metro Manila,” he added.

Balisacan said the NEDA Board confirmed the DOTr’s request for changes in scope, project cost increase, implementation period extension, additional loan, and second loan reallocation of the MRT-3 Rehabilitation project.

“The NEDA Board likewise approved the utilization of the JICA loan balance, this is the Japan International Cooperation Agency, of P2.12 billion for the CNS/ATM, that is the Communications, Navigation, Surveillance/Air Traffic Management, Maintenance and Resiliency Enhancement,” he said.

“This approval shall enable the upgrade of our air transport facilities and improve passenger experience by enhancing the safety, reliability, and efficiency of air traffic service in Philippine airspace following international standards,” he said.

The approval includes a 60-month loan validity extension from 2023 to 2028 to cover the preceding intended utilization.

“In line with the strategies identified under the Philippine Development Plan 2023-2028, the approval of these high-impact projects is a manifestation of the Marcos Administration’s strong commitment to improving the quality of life of the Filipino people,” Balisacan said.

“In the next six years, we can look forward to seeing more of our agencies and sectors working hand in hand toward creating a prosperous, inclusive, and resilient society,” he said. — DVM, GMA Integrated News