MANILA, Philippines - The National Economic and Development Authority (NEDA) approved yesterday three infrastructure projects worth P13.38 billion.
NEDA said the Investment Coordination Committee-Cabinet Committee (ICC-CC) approved the Revised Panglao Island Airport Development project, Panay River Flood Control project and the Philippines’ Response to Indigenous People and Muslim Education (PRIME) Facility project.
In its fifth meeting for the year, the ICC-CC approved the proposed change in the cost of the Revised Panglao Island Airport Development project by about 76 percent from the original P4.27 billion to P7.54 billion.
The project cost rose due to the increase of item prices and quantity because of design modification and additional acquisition of 14.5 hectares of land, among others.
The Panglao airport project aims to develop a new airport facility in Panglao Island, Bohol to comply with domestic and international standards for operational safety and efficiency.
The airport project is seen to be implemented in the first semester of 2010 and completed in 2012.
The committee also approved the Panay River flood control project costing P5 billion which is expected to address flooding problems along the sub-basins of Panay River.
About P4.2 billion loan will be requested from the Japan International Cooperation Agency (JICA) while the local counterpart will be about P741 million.
The ICC-CC also approved the PRIME facility which aims to improve access to quality basic education particularly by indigenous peoples and students in Muslim communities. Regional and school grants will be provided and advocacy activities and supporting capacity building activities will also be supported.
The facility is worth P840 million, where P700 million will be a grant from Australian Agency for International Development (AusAID) and P140 million to be shouldered by the government.