LRT 6, NLEX get top priority for int’l funding

Two transport infrastructure projects have been identified as the most important among the 10 prority projects presented by the National Government for funding or assistance from international agencies.

In an electronic press briefing held yesterday at the World Bank head office in Pasig, Finance Secretary Margarito Teves said that the two top projects for external funding are the 35.474-billion LRT Line 6 project — the southward extension of LRT Line 1 to Cavite —and the P3.013-billion North Luzon Expressway (NLEX) expansion project.

"But if possible, it would be best to retain the 10 priority projects since the decision to be made by the investors and proponents will take some time, and there will still be discussions and approvals sought with the Investment Coordinating Council ," Teves said from the conference site in Cebu.

Teves was Philippine Development Forum (PDF) conference in Cebu along with representatives of national government agencies, local government units (LGUs), as well as representatives of international funding agencies such as the World Bank, Asian Development Bank (ADB), Japan Bank for International Cooperation (JBIC) and International Finance Corp. (IFC).

The other eight priority projects that the Philippine government hopes to market for international lending or financing are: the P1.115-billion Bicol Emergency Power Restoration Project; the P3.575-billion Angat Water Utilization Improvement project, Phase 2; the P1.621-billion Quirino Highway project; the P3.13 billion Palawan South Road project; the P19.35-billion North Luzon Expressway Extension project; the P4.52-billion Northrail-Southrail Linkage project; the P2.67-billion Panguil Bay Bridge project; and the P6.206 billion LRT Line 1 North extension project, which closes the MRT-LRT loop.

The aggregate cost of the 10 priority projects amounts to about P80.67 billion.

For his part, World Bank country director Joachim von Amsberg said funding agencies prefer to concentrate on "doable" priority projects rather than work on a host of proposals.