NEDA Board Approves P269.7 Billion Worth of “High-Impact” Projects and Revisions

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In a significant development, the National Economic and Development Authority (NEDA) Board, under the leadership of President Ferdinand R. Marcos, Jr., gave the green light to four “high-impact” projects and modifications to two existing projects on Friday, amassing a total value of approximately P269.7 billion.

Among these approvals, two projects are set to be financed through public-private partnerships, with NEDA Secretary Arsenio M. Balisacan emphasizing their role in bolstering tourism and addressing healthcare system shortcomings.

The most noteworthy of the approvals is the P4.5-billion upgrade, expansion, operation, and maintenance of the Bohol-Panglao International Airport. Initially designed to accommodate two million passengers annually, the project is expected to accommodate 3.9 million passengers annually upon completion, according to Mr. Balisacan.

Additionally, the Board approved the P392-million Dialysis Center Project for the Baguio General Hospital and Medical Center, aimed at significantly increasing the number of hemodialysis machines at the hospital by 2029. This expansion is intended to make dialysis treatment more accessible to a greater number of chronic kidney disease patients.

Two projects will be financed through official development assistance (ODA) and are expected to support the country’s green economy initiatives while expediting and enhancing infrastructure projects.

The P13.08-billion Infrastructure Preparation and Innovation Facility’s Second Additional Financing project was approved to streamline feasibility and design processes for infrastructure projects, effectively reducing the time required for project implementation. This project provides better financing and support for project preparation activities for the Department of Public Works and Highways (DPWH) and the Department of Transportation (DoTr).

Furthermore, in a commitment to environmental sustainability, the Board endorsed the Green Economy Program, supported by a P3.62 billion grant from the European Union. The initiative aims to reduce waste, enhance energy efficiency, and promote a circular economy by building the capacity of the government and private sector to engage in green economy activities.

Simultaneously, the NEDA Board authorized adjustments to two infrastructure projects. The Bataan-Cavite Interlink Bridge Project saw cost and timeline revisions, with a budget increase to P219.3 billion and a completion date set for December 2029. The Cebu Bus Rapid Transit Project’s scope and infrastructure were expanded, pushing its budget to P28.78 billion, with the project timeline extended to December 2027.

In closing, Mr. Balisacan affirmed that the approval of these six projects underscores the administration’s commitment to advancing infrastructure development aggressively in pursuit of medium-term development goals, such as creating high-quality jobs and improving the lives of all Filipinos.