MARAWI REBUILDING TO COST P80 B
Groundbreaking in June, completion by December 2021
The government will spend up to P80 billion on the rehabilitation and reconstruction of wartorn Marawi City, with groundbreaking slated for mid next month.
Task Force Bangon Marawi chair Eduardo D. Del Rosario told reporters that the rehabilitation of “ground zero,” or the area most affected by the fivemonth fighting between government forces and Islamic State supporters last year, was estimated to cost P22 billion.
Another P55 billion will be allocated for intervention in surrounding areas, Del Rosario said.
The total cost of rebuilding Marawi and its outskirts in the next four years could reach P80 billion, Del Rosario said, adding that the final figure would be determined by the first week of June.
The government had already allocated P10 billion under the 2018 national budget, while the Bureau of the Treasury planned to issue so-called “Marawi bonds” to raise funds, Finance Secretary Carlos G. Dominguez III said.
“We will be issuing bonds specifically for Marawi, and they will be retail bonds because we think every Filipino will want to share in the rehabilitation of Marawi. We will also offer international agencies and countries an opportunity to participate in the financing of the rehabilitation of Marawi. This funding will be such that it will be inclusive—it will encourage people not only here but also abroad to participate. We can assure everybody that these funds will be properly and prudently used and will not be subject to graft or corruption,” Dominguez said.
To complete the reconstruc- tion and rehabilitation of Marawi by December 2021, groundbreaking in the most affected area was scheduled for June 16, or “a week after if we encounter any delay,” Del Rosario said.
“What we will do is work day and night to be faster, 24 hours a day, seven days a week,” he added.
This week, the interagency Task Force Bangon Marawi will finalize the infrastructure development blueprint, Del Rosario said. He said they were having difficulties in identifying the locations due to “resistance” from the community. “We have to look for another lot where there’s no resistance to government acquisition,” he added.
Del Rosario said the proposal of the Bagong Marawi Consortium to develop and design the city’s reconstruction will be subjected to Swiss challenge next week.
In three weeks’ time, the government will determine if the offer of the consortium—which is composed of five Chinese firms and four local companies—is the best option for the community and the government before awarding the deal, Del Rosario said.