Marcos OKs 6 more 'high impact' projects – Balisacan

Planet Philippines (Full Attribution Below)

Feb 3

PRESIDENT Ferdinand "Bongbong" Marcos Jr. has approved six more "high-impact" projects that will "significantly contribute to achieving our social and economic transformation goal in the medium term," National Economic Development Authority (NEDA) chief Arsenio Balisacan said Friday.

Balisacan, who heads the NEDA, said the approval of the projects was made during the President's meeting with the Board on Thursday in Malaca?ang.

"In line with the strategies identified under the Philippine Development Plan 2023 to 2028, the approval of these high-impact projects is a manifestation of the Marcos administration's strong commitment to improving the quality of life of the Filipino people," Balisacan told reporters during a Palace press briefing.

"In the next six years, we can look forward to seeing more of our agencies and sectors working hand in hand toward creating a prosperous, inclusive, and resilient society," he added.

Apart from the establishment of the University of the Philippines - Philippine General Hospital cancer center, Balisacan said the NEDA Board, which Marcos chairs, also approved the development of the new Dumaguete airport, which will replace the existing Dumaguete-Sibulan airport.

This project, he said, will cost about P17 billion, P13 million of which will be funded through official development assistance (ODA) loan from the Korean government.

"The Philippine government through the DOTr will shoulder the remaining amount of about 3.9 billion pesos. The project will be implemented within seven years," Balisacan said.

Other projects approved by the NEDA Board include increasing the cost of the Metro Rail Transit Line 3 (MRT-3) rehabilitation project by P7.6 billion, from P21.9 billion to P29.6 billion; and the utilization of the Japan International Cooperation Agency (JICA) loan balance of P2.12 billion for the new Communications, Navigation, Surveillance-Air Traffic Management system.