3 PPP projects secure preparation funding

Funding has been approved for the preparation of three national projects that would be pursued via public-private partnerships (PPP), the PPP Center said.

The Project Development and and Monitoring Facility (PDMF) Committee recently approved the provision of project development support for the following projects using the PDMF fund: Cultural Center of the Philippines (CCP) Asset Development Project; Davao Sasa Port Modernization Project; and Development, Operation and Maintenance of the General Santos Port Project.

Funding support would provide for project development, transaction advisory and management of competitive challenge.

The PDMF Committee approves projects that would be receiving funding support from the PDMF, a revolving fund used to engage consultants to help develop bankable PPP projects and ensure effective monitoring of project implementation.

The fund, which is managed by the PPP Center, can be tapped by all national agencies and local government units to assist them in the complete life cycle of a PPP project – from project development, procurement to monitoring and implementation.

The committee is composed of representatives from the National Economic and Development Authority (NEDA), Department of Finance, Department of Budget and Management and the PPP Center.

The CCP Asset Development Project involves the redevelopment of a 57.08-hectare area within the CCP Complex in Pasay City into a “smart city” composed of iconic buildings envisioned to serve as venues for various cultural and artistic endeavors. The approved PDMF support for this project covers the conduct of a feasibility study, and project assistance and advisory from procurement to financial close.

The project support for the Davao and General Santos Port projects, on the other hand, would focus on providing assistance in managing the competitive challenge process for the two unsolicited joint venture proposals. The proposals involve the rehabilitation, upgrading, and operations and maintenance of the Davao Sasa Port and the Port of General Santos, respectively.

Since 2010, 17 PPP projects with a total project cost of P328.67 billion have been awarded, 12 of these projects received PDMF support for project preparation.

A total of 36 projects received PDMF support for project development, transaction advisory and monitoring services.