By Marisol Bo-oc | 04:38 PM October 15, 2023
The National Economic and Development Authority (NEDA) Board has approved the P4.5 billion upgrade of the Bohol-Panglao International Airport.
“Currently, Bohol’s international airport is designed to support two million passengers per year. With the approved expansion project, the maximum passenger throughput will be increased to 2.5 million passengers per year at project start and is expected to increase to 3.9 million by the end of the project. We expect this project to boost tourism and, as a result, generate more high-quality jobs,” said NEDA Secretary Arsenio Balisacan said a press conference in Malacanang.
He also said that the NEDA board approved approximately P269.7 billion worth of programs and projects in its 10th meeting today.
The other five approved projects which will be funded via Public Private Partnership include the following: dialysis center project for the Baguio General Hospital and Medical Center, second additional financing for infrastructure preparation and innovation facility, Green Economy Program, Bataan-Cavite Interlink Bridge, and revisions on the Cebu Bus Rapid Transit project.
“I am pleased to announce that the National Economic and Development Authority Board, under the leadership of President Ferdinand R. Marcos, Jr., has approved a number of high-impact programs and projects amounting to approximately P269.7 billion during its tenth meeting held today. [These are being undertaken] to boost tourism and address gaps in our healthcare system,” Balisacan said.
The P392-million Dialysis Center for the Renal Center Facility of the Baguio General Hospital and Medical Center (BGHMC), for its part, will be of service to the largest government-funded tertiary hospital in the Cordillera Administrative Region.
The second additional financing for infrastructure preparation and innovation facility, on the other hand, will speed up the process of conducting feasibility studies, detailed engineering design, and other project preparation activities by providing the Departments of Public Works and Highways and Tourism with a better financing mode and conducting project preparation activities.
The second additional financing, which costs P13.08 billion of which P11.38 billion is funded by official development assistance from the Asian Development Bank, will also include more Infrastructure flagship projects or IFPs to its scope.
In addition, NEDA Board’s approval of the P3.62 billion Green Economy Program will provide capacity building for the national government, local government units, and the private sector to mainstream and sustain green economy activities, enhance circular economy, reduce waste and plastic, as well as increase energy efficiency and renewable energy deployment.
The Green Economy Program will be financed via a grant from the European Union.
The NEDA Board also hiked the cost of the Bataan-Cavite Interlink Bridge (BCIB) to P219.3 billion from P175.6 billion and moved its target completion to December 2029 to account for inflation as well as accommodate an updated detailed engineering design that utilizes superior construction materials and a stronger bridge structure.
The 32.15-kilometer BCIB over Manila Bay is expected to reduce travel time between Bataan and Cavite from four to five hours to 30-45 minutes en route to economic activity and benefits for both provinces, as well as decongest traffic jams in Metro Manila.
Finally, the NEDA Board also approved changes to the cost, scope, and timeline of the P28.78-billion Cebu Bus Rapid Transit or Cebu BRT Project to include mixed traffic sections from Bulacao-Talisay, SRP-Talisay, and IT Park-Talamban.
The revised Cebu BRT project, whose target completion date has been moved to December 2027, is also expected to increase the number of stations and terminals, optimization of routes, and an overall increase in the number of buses.
The revised Cebu BRT project will be financed by a loan from the French Development Agency (AFD and World Bank.
