The National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved P165 billion worth of projects including the P102-billion unsolicited build-operate-transfer proposal for the Ninoy Aquino International Airport (NAIA).
Aside from the NAIA public-private partnership project, the ICC approved six new projects, and the extension of financing of other projects.
The ICC-CabCom also approved the P14.97-billion Pasacao-Balatan Coastal Tourism
Highway, which will be implemented by the Department of Public Works and Highways. The project involves the construction of a 40.69-kilometer four – lane coastal tourism highway along the west coast of Camarines Sur that will provide access to various tourism sites and a direct link between the municipalities of Pasacao and Balatan.
The committee also approved the P7.42-Proposed Aqueduct No. 7 (AQ-7) under the expanded Angat water transmission improvement project of the Metropolitan Waterworks and Sewerage System, with an extension of implementation period until July 2023.
AQ-7 will involve the detailed engineering design and construction of a steel aqueduct to provide operational flexibility to the raw water transmission from Ipo Dam to La Mesa Dam.
Also approved was the additional P11.46 billion financing for the Infrastructure Preparation and Innovation Facility proposed to be funded through Asian Development Bank loan. The additional financing will scale up the existing Facility to further strengthen the quality of priority infrastructure project proposals.
The P27.92-billion Support to Parcelization of Lands for Individual Titling Project of the Department of Agrarian Reform was also approved to hasten the subdivision of collective land ownership award and generation of individual titles. This will be funded through a World Bank loan.
The Local Governance Reform Sector Development Project of the Department of Finance-Bureau of Local Government Finance was also approved with a total project cost of P1.56 billion (excluding finance charges). This will strengthen the policy and administrative environment for enhancing local source revenues from real property tax by instituting reforms in real property valuation and assessment.
The ICC-CC also approved the Development Objective Assistance Agreement: Improved Health for Underserved Filipinos between the Department of Health and the US Government through the United States Agency for International Development .
This will focus on the country’s priority health concerns such as tuberculosis, family planning, maternal and child health, and improving governance mechanisms that have bearing on the implementation of the Universal Health Care Act.
Lastly, a two-year extension of the World Bank loan validity for the Philippine Rural Development Project of the Department of Agriculture, from May 31, 2021 to May 31, 2023, was also approved by the ICC-CC.
This is together with a one-year extension for each of the five existing bilateral agreements between the governments of the Philippines and the US covering the areas of Economic Growth and Democracy and Governance, Basic Education, Health, Mindanao Peace and Development, and Environment, Water, and Climate Change.