Philippines: Government targets completion of 21 flagship infra projects by 2022

• Around 21 of the 75 flagship projects under the government’s Build Build Build program can be completed by 2022, documents from the National Economic and Development Authority (NEDA) showed.
• An aide memoire on the status of the flagship projects as of 31 Jul 19 showed that the remaining 54 projects will be completed beyond 2022, but may commence implementation during the present administration.
• As of Jul 19, the 75 flagship projects have an indicative total investment requirement of PHP2.42tr. Out of these projects, 52 will be financed via official development assistance (ODA), 14 through government funds, eight projects will be implemented via public-private partnership, and one will be a purely private initiative.
• The aide memoire noted that the total funding requirement for the projects may still change as adjustments in cost and scope may still be implemented.
• Only 37 projects have so far been approved by the Investment Coordination Committee (ICC) and confirmed by the NEDA Board, 28 are pending approval by ICC and NEDA Board, while 10 no longer need approval.
• Out of these projects that have hurdled the approval process, 21 are seen for completion by 2022. Among the projects that are already under implementation, 9 are closer to completion by the end of the current administration.

External Link : https://www.philstar.com/business/2019/08/27/1946658/government-targets-completion-21-flagship-infra-projects-2022-