NEDA SAYS 12 NEDA BOARD-APPROVED PROJECTS WILL CREATE EMPLOYMENT, INFRA INVESTMENTS FOR INCLUSIVE GROWTH
Socioeconomic Planning Secretary and NEDA Director General Cayetano W. Paderanga, Jr. said the 12 projects approved by the NEDA Board on March 22 respond to the 2011-2016 Philippine Development Plan’s key strategies of employment generation and massive investment in infrastructure to attain inclusive and sustainable growth.
“The 12 projects recently approved by the NEDA Board, which are mostly infrastructure projects, are among government’s responses to achieve the Plan’s goals of inclusive and sustainable growth through creating more employment opportunities and investing massively in infrastructure,” Paderanga said.
He added that two approved projects also respond to the Plan’s complementary strategy of promoting ecological integrity to mitigate potential impacts of environmental factors.
NEDA Deputy Director General Rolando G. Tungpalan, who joined Paderanga during the NEDA Board meeting, said the projects underwent evaluation by the interagency Investment Coordination Committee (ICC).
“All these projects underwent strict evaluation, which includes economic and financial analysis, first by the ICC Technical Board (ICC-TB) followed by the ICC Cabinet Committee (ICC CabCom). The CabCom endorsed these projects to the NEDA Board for its approval. Once approved by the Board, the line agencies start implementing the projects according to schedule, Tungpalan explained.
The PhP133.3 billion worth of approved projects comprise three irrigation, three road/bridge, two environment-related, two energy, one on information systems and one light rail project.
The three irrigation projects, worth PhP19.83 billion to be implemented by the Department of Agriculture – National Irrigation Administration (DA-NIA), are the Jalaur River Multipurpose Irrigation Project Phase II, Umayam River Irrigation Project (URIP) and the Casecnan Multipurpose Irrigation and Power Project.
The three road/bridge projects amounting to PhP4.3 billion are the Bridge Construction Project for Expanded Agrarian Reform Communities (ARC) Development or the Umiray Bridge Project, Baler-Casiguran Road Improvement Project, and the Samar Pacific Coastal Road Project (SPCRP).
Meanwhile, the two environment-related projects are the Integrated Natural Resources and Environmental Management Program (INREMP) worth PhP7.24 billion, and the Integrated Disaster Risk Reduction and Climate Change Adaptation Measures in Low-Lying Areas of Pampanga Bay Project worth PhP4.65billion.
To promote sustainable transport, achieve energy efficiency and thus address market transformation in the sector, the NEDA Board also approved the Market Transformation through Introduction of Energy Efficient Electric Tricycle (E-Trike) Project and the Agus VI Hydroelectric Power Plants (Units 1 and 2) Uprating Project. These two projects amount to PhP24.1 billion.
The LTO Infrastructure and Information System (LTO-IIS) Project and the LRT Line 1 South Extension Project, amount to PhP11.65 billion and PhP61.53 billion, respectively.
The NEDA Board is the governing body that sets major development policy directions for the Philippines while the NEDA Secretariat serves as its research and technical support arm. President Benigno S. Aquino III is chair of the Board while Paderanga serves as Vice Chair. The NEDA Board members are: the Secretaries of Agriculture, Budget and Management, Energy, Environment and Natural Resources, Finance, Public Works and Highways, Science and Technology, Tourism, Trade and Industry, Transportation and Communications, and Presidential Management Staff; the Deputy Governor of Bangko Sentral ng Pilipinas; the Chairpersons of Housing and Urban Development Coordinating Council, Metro Manila Development Authority, and Mindanao Development Authority; the Governor of the Autonomous Region for Muslim Mindanao (ARMM); and the President of Union of Local Authorities of the Philippines (ULAP)
MR No. 2012-022
(Embargo in place until 9:00am Monday, March 26, 2012)
