36 projects also delisted
(Eagle News)–The National Economic Development Authority Board has approved 23 new Infrastructure Flagship Projects (IFPs) under the Build-Better-More Program, including the Davao City Bypass Construction.
The Presidential Communications Office said the 23 new projects were added to the IFP list as they complied with set criteria including being consistent with and contributing to national development objectives and priorities; having been incorporated in the Public Investment Program (PIP) and Three-Year Rolling Infrastructure Program (TRIP) through the PIP Online System; and had a TPC of at least P2.5 billion
Also deleted were 36 projects for yielding a total project cost below P2.5 billion; not being a top priority in the implementing agency’s budget proposal; not being endorsed in the PIP and TRIP; not having substantial progress in its implementation in 2023; being considered as regular programs of the implementing agency; and being funded by purely private business undertakings.
“This brings our total IFPs to185,” President Bongbong Marcos said after the 14th NEDA Board meeting in Malacañang.
With the changes, the indicative total cost increased from P8,776.04 billion to P9,143.16 billion, the PCO said.
Of the total cost, it said 81 are financed through the Official Development Assistance (ODA), 51 through the General Appropriations Act, 45 through public-private partnerships (PPPs), and seven through hybrid financing modalities.
The financing of one project has yet to be determined.
“The IFPs are game changing transformative and urgently needed infrastructure projects of national significance that aim to showcase the overall Build-Better-More Program of the administration,” Socioeconomic Planning Undersecretary Joseph Capuno said.
