NEDA ICC approves 2 projects, request for additional financing

The National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved two projects and one request for additional financing last week.

In a statement, the NEDA said yesterday that the first two new projects approved were the Phase I of the safe Philippines project and the bridge construction and acceleration project for socioeconomic development

The two projects are under Department of the Interior and Local Government as well as the Department of Public Works and Highways, respectively.

According to NEDA, the safe Philippines project aims to improve the capabilities of local government units towards collaborative and more efficient management of public order, security, and safety.

With an estimated cost of R20.313 billion, the project entails the construction of 18 integrated operations and command centers that are complete with video surveillance systems and a remote backup data center.

Socioeconomic Planning Secretary Ernesto Pernia highlighted the importance of the project in ensuring security, public order, and safety as this constitutes the bedrock (referring to 0 in the 0-10 Points) Socioeconomic Agenda of the Duterte Administration.

“We value the need of people to feel safe wherever they are in the country and to be able to go about their business and other pursuits. This is essential in building the foundation for inclusive growth, a high trust society, and a globally competitive knowledge economy,” Pernia said.

Meanwhile, the bridge construction and acceleration project for socioeconomic development involves the construction of five bridges and 25 truss bridges, altogether with a total length of 2,848 lineal meters, in nine regions of the country.

With an estimated cost of R11.369 billion, the construction of these bridges is expected to be completed by 2022. (CSL)