The National Economic and Development Authority (INQUIRER FILE PHOTO)
MANILA, Philippines — The National Economic and Development Authority (NEDA) board, which is chaired by President Ferdinand “Bongbong” Marcos Jr., has approved 194 infrastructure projects.
This was announced by NEDA Secretary Arsenio Balisacan on Thursday after the board met with the President in Malacañang Thursday morning.
“The approved new list of infrastructure flagship projects includes a total of 194 projects amounting to about P9 trillion. Majority of these infrastructure flagship projects are in physical connectivity and water resources, which include projects in irrigation, water supply and flood management,” Balisacan said in a Palace briefing.
“The list also includes projects in digital connectivity, health, power and energy, agriculture and other infrastructure,” Balisacan added.
He said new projects included in the list are the following:
-Panay Railway Project
-North Long-haul railway
-San Mateo railway
UP – Philippine General Hospital Diliman Project
-Ninoy Aquino International Airport rehabilitation project
-Ilocos Sur Trans Basin project
-Metro Cebu Expressway
Balisacan said the infrastructure projects are expected to create more “high quality and resilient jobs” and will be prioritized under the government’s annual budget preparation.
He said the 194 projects will be financed by various development partners, through official development assistance, the national government, general appropriations and the private sector, particularly public-private partnerships (PPP).
Balisacan said 45 of the infrastructure projects are seen to be financed through PPP.
“The government shall harness the financial and technical resources of the private sector which allows the private sector to allocate its funds for greater investment in human capital development,” he said.
NEDA has been tasked to be the lead agency to monitor the implementation of the projects, he said.