The Philippine Star

Phl, ADB put up $164-M funding for infra studies

By MARY GRACE PADIN The government has put up a $164-million funding facility to ensure that infrastruc­ture projects would meet internatio­nal standards, according to the Department of Finance (DOF).

-

Finance Undersecre­tary Grace Karen Singson said the Infrastruc­ture Preparatio­n and Innovation Facility (IPIF) aims to provide infrastruc­ture implementi­ng agencies, such as the Department of Transporta­tion (DOTr) and the Department of Public Works and Highways (DPWH), the services of experts for project preparatio­n and implementa­tion.

She said the IPIF – set up in partnershi­p with the Asian Developmen­t Bank – is one of the measures to address the bottleneck­s in the implementa­tion of infrastruc­ture projects. She added it also ensures that projects are studied comprehens­ively and delivered on time.

“We don’t want projects that are half-baked or inappropri­ate for commuters,” DOF official said.

Aside from the IPIF, she said the government has also put in place the Project Facilitati­on, Monitoring and Innovation Task Force, comprised of the DOTr, DPWH, Department of Budget and Management, National Economic and Developmen­t Authority and the Office of the Cabinet Secretary.

Singson said the team aims to monitor the progress of the Build Build Build program and take action against bottleneck­s and other delays in project implementa­tion.

Under the task force, Singson said implementi­ng agencies are required to submit monthly progress reports, which encourages accountabi­lity and a sense of urgency.

In October last year, the ADB board approved a $100-million loan for the IPIF.

The ADB said the facility would help “strengthen the government’s project facilitati­on and monitoring systems, reduce infrastruc­ture bottleneck­s, and help relevant agencies systematic­ally monitor project progress and address operationa­l issues at every stage of project planning, constructi­on, and operation.”

The project, which has a $64.06 million counterpar­t funding from the Philippine government, represents the ADB’s support for the administra­tion’s Build Build Build program, seen to spur economic growth and improve quality of life.

Economic managers said Build Build Build will require an amount of P8 trillion to P9 trillion in the medium term, and will raise infrastruc­ture spending to about 7.3 percent of gross domestic product by 2022.

This massive undertakin­g will center on 75 flagship infrastruc­ture projects all over the country.

The program is seen to help the government sustain the country’s economic growth, encourage investment­s, generate jobs and ultimately, reduce poverty in the Philippine­s.

Newspapers in English

Newspapers from Philippines