The National Economic and Development Authority (Neda) has revealed that the majority of ongoing flagship infrastructure projects as of April this year are halfway done.
Based on the status report on the 75 flagship projects, Neda said there are already nine projects that are ongoing and six of these have completion rates of over 46 percent.
Neda added the government has already completed two projects—the improvement of sections along the Pasig River from Delpan Bridge to Napindan Channel, a component of the Pasig-Marikina River Channel Project, and the Pulangi 4 Selective Dredging Phase 3 Project.
“These projects are expected to greatly contribute to achieve the country’s development goals by enhancing connectivity and promoting growth centers outside of the urban-industrial region centered around Metro Manila,” Neda said.
Five of the nine projects were approved by the Neda Board and the remaining other three projects do not require approval from the Investment Coordination Committee (ICC).
Neda reported that the project that exceeded a 50-percent accomplishment rate is the Malitubog-Madriagao Irrigation Project Phase II being implemented by the National Irrigation Administration (NIA). The project was approved by the Neda Board.
The project, estimated to cost P5.44 billion, has an accomplishment rate of 54.91 percent as of March 2019. The project is being implemented in the Autonomous Region in Muslim Mindanao (ARMM) and Region 12, or Soccsksargen.
Another project that had a high rate of accomplishment is the P14.972 billion worth Clark International Airport Expansion Project. It has an accomplishment rate of 47.02 percent as of January 2019.
The project, which was approved by the Neda Board and funded through public-private partnership, is being undertaken by the Bases Conversion and Development Authority and the Department of Transportation (DOTr).
However, the project with the lowest accomplishment rate is the P4.607-billion Binondo-Intramuros Bridge funded by a grant from the Chinese government.
The project has a physical accomplishment of 5.91 percent as of April 2019. This is also below the accomplishment rate target of 7.05 percent.
There are also projects that have exceeded accomplishment rates, such as the P1.367-billion Estrella-Pantaleon Bridge that is also being financed by a grant from China. The project has a physical accomplishment rate of 8.159 percent as of April 2019.
However, there are projects that have an accomplishment rate that is below target. Data showed that these projects include the P1.896-billion Bonifacio Global City to Ortigas Center Road Link Project Phase I, IIA and IIB.
The project, which is being implemented by the Department of Public Works and Highways, has an accomplishment rate of 31.33 percent. This is below the target of P49.44 percent.
The list of projects that have not met their target accomplishment rates are three projects not requiring ICC approval. These projects are all linked to the Clark Green City and have an accomplishment rate of 46.7 percent, lower than the target of 47.65 percent.
The projects include the P3.33- billion Mixed Income Housing project for the Clark Green City; the P1.78-billion Government Center; and the P850-million Commercial Center.
Earlier, Neda said the majority, or 55 of the 75 flagship projects, will be financed through official development assistance (ODA). These projects amount to $1.97 billion, or 92.56 percent, of the total amount for the projects.
Japan, through the Japan International Cooperation Agency, provided the bulk ODA to the country accounting for 36 percent share worth $5.33 billion for 36 loans/grants of the active ODA portfolio, according to Neda’s ODA Portfolio Review in 2017.
This is followed by the World Bank with 21 percent, or $3.07 billion, for 26 loans/grants; and the ADB with 20 percent, or $2.97 billion, for 37 loans/grants.
Image credits: Bernard Testa