President Marcos Jr. yesterday ordered the Department of Environment and Natural Resources (DENR) to look into the possible offering of government bonds to fund water projects in the country, following a finding that around 40 million Filipinos in the country are underserved or have no access to clean, potable water.
DENR Undersecretary Carlos Primo David, in a briefing after the sectoral meeting in Malacanang, said his department recommended several options to fund the water projects around the country which include issuing government bonds.
“We are thinking of different possible sources of funds — there is the government funds, we are also looking at the possibility of soft loans from development partners and organizations. I also raised with the President if the government could issue bonds for water projects, and of course PPP in coordination with the private sector,” David said.
He said the President, in response, ordered DENR to start studying the use of bonds and seek help and coordinate with the country’s development partners such as the World Bank (WB) and the Asian Development Bank (ADB) on how to implement such schemes.
“The directive of the President is to start studying, ask help from our development partners World Bank, ADB and so on, to implement this,” David said.
He said there is no estimated amount yet but most government bonds are issued with a five to seven percent interest.
He said they are looking at issuing the bonds locally.
David said they would have more details once the study is done.
The President also ordered the national government to come up with concrete solutions on how the government will be able to provide sufficient water supply to at least 40 million Filipinos who have no access to freshwater.
The President also called for the reorganization of the various water agencies and their functions to ensure the efficient and effective response to water-related challenges and in specific areas.
Department of Public Works and Highways (DPWH) Secretary Manuel Bonoan said the President wants the agency to integrate its flood control management programs with other sectors for effective water management and conservation.
Marcos also sought for continued development of National Irrigation Administration dams for multipurpose use to include agricultural irrigation, fresh water supply, power supply and flood control.
During the meeting, the DPWH reported that from July 2022 to 2024, it has completed 4,765 flood control projects while 4,227 are still ongoing.
The Department also presented its master plan for flood management in Metro Manila and surrounding areas for 2011-2035, worth P104.2 billion.
