The National Economic and Development Authority (NEDA) board has approved PHP269.7 billion worth of infrastructure projects in the Philippines. One of the key projects approved under this round includes the upgradation, expansion, operations, and maintenance (O&M) of the Bohol-Panglao International Airport.
The PHP4.5 billion Bohol-Panglao International Airport project is a public-private partnership (PPP) project that aims to increase passenger capacity and improve passenger experience at the airport. Once completed, the airport will be able to accommodate around 3.9 million annual passengers, up from its current 2.5 million capacity.
The NEDA board also allowed the implementation of new official development assistance (ODA) programs which will enhance the country’s green economy initiatives and help speed up infrastructure projects. These include the PHP13.08 billion Infrastructure Preparation and Innovation Facility to help the Departments of Public Works and Highways (DPWH) and Transportation (DOTr). Funds will be used to expedite feasibility studies, engineering design, and other project preparation activities.
Of the PHP13.08 billion, PHP11.38 billion will be financed through ODA from the Asian Development Bank (ADB) while the Green Economy Program will be financed through a PHP3.62 billion grant from the European Union (EU).
Additionally, NEDA also approved changes to the cost and timeline of the Bataan-Cavite Interlink Bridge project. The 32.15-km-long bridge over Manila Bay will reduce travel time between Bataan and Cavite from four to five hours to just 30 to 45 minutes. The funding for the bridge will be increased to PHP219.3 billion from PHP175.6 billion and is expected to be completed by December 2029.
