The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand Marcos Jr., approved four projects which will be financed through official development assistance (ODA) loans, NEDA Secretary Arsenio Balisacan said Friday.
During a Palace briefing, Balisacan said the four projects “proposed to be financed through official development assistance loan financing with a total amount of P117 billion will commence implementation in 2023.”
The NEDA chief said the total cost of the project amounts to P17 billion, P13 billion of which will be funded through an ODA loan from the Korean government through the Export-Import Bank of Korea-Economic Development Cooperation Fund. Also approved by the NEDA Board was the Department of Agriculture’s Mindanao Inclusive Agriculture Development Project .
“The project will be pivotal in reducing poverty, unemployment, and food insecurity among indigenous peoples. It will improve the economic situation of the indigenous peoples in Mindanao and further strengthen the capacity of LGUs to implement support programs that address weak market linkages and poor infrastructure in geographically isolated ancestral domains,” the NEDA chief said.
The project has an estimated cost of P20 billion, which will be financed through an ODA loan from the Asian Development Bank. “The project will also involve integrating other MRT-3-related projects, such as the Common Station, the Dalian Trains, and the transition to a 4-car train configuration. This rehabilitation project aims to enhance the safety and level of service of the MRT-3 and to promote its use to help alleviate the worsening traffic congestion in Metro Manila,” he added.
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