The estimated value of the administration’s infrastructure flagship projects (IFPs) has been reduced to P8.17 trillion as the government was able to streamline the list.
The said figure is based on the Department of Finance’s (DOF) fact sheet shared with reporters last Friday. When it was initially announced, the 194 projects were estimated at around P9 trillion.
“NEDA (National Economic and Development Authority) was able to look at some redundancies,” Finance Secretary Benjamin Diokno said, noting there is now a better grasp in terms of funding requirements.
“As of May 9, 2023, there are 68 ongoing projects, 25 for implementation, nine for approval, 52 under project preparation and 40 under pre-project preparation — for a total of 194 IFPs. The updated total investment value of which now stands at P8.2 trillion,” he added.
Based on the DOF’s document, the fund source of the IFPs are as follows: P4.51 trillion in official development assistance (ODA), P2.51 trillion in public-private partnership (PPP), P850.58 billion from the general appropriations act (GAA), P105.14 billion under the PPP/supplemental toll operation agreement, P95.42 billion from the GAA/PPP, P64.92 billion in ODA/PPP, P7.37 billion under the PPP/port terminal management regulatory framework, while the cost of the remaining P24.02 billion is yet to be determined.
Majority of the projects or 119 addresses physical connectivity, 44 for water resources, 14 for agriculture, six for health, five each for digital connectivity and other infrastructure and one for power and energy. – Angela Celis
