NEDA, KOICA sign deal for $2.5m integrated water resources project

THE National Economic and Development Authority (NEDA) and the Korea International Cooperation Agency (KOICA) signed on Friday a pact to implement the Integrated Water Resources Management and Sustainable Development project worth $2.5 million or roughly P140 million.

“This momentous occasion holds great promise for the improvement of vital services, such as water supply, sanitation, irrigation, and flood control under the framework of Integrated Water Resources Management or the IWRM,” NEDA Secretary Arsenio Balisacan said.

“By ensuring equitable, efficient, and sustainable management and allocation of our water resources, we can embark on a path of progress,” Balisacan said.

The capacity development project will continue until 2024. It aims to increase the management and technical skills of institutions involved in the water resources sector.

The initiative supports the strategies under the Philippine Development Plan 2023-2028, which indicates that integrated water and resource management is a way to intensify the rehabilitation, protection, and management of the country’s ecosystems.

During the signing ceremony, the NEDA chief highlighted that the project is imperative for addressing the issues in the water sector caused by weak governance and fragmented systems.

“We must address these shortcomings by embracing effective water governance through integrated water resources management. By harmonizing the planning and management of land, water, and coastal resources, we can overcome these obstacles and create a brighter future for all,” Balisacan said.