P76B in projects finished by 2016
MANILA, Philippines—President Aquino has approved funding for some P76.56 billion worth of current and new projects that are expected to be finished within his term.
Six major projects in the energy, education, public works, transportation and agriculture departments were approved at a meeting on Wednesday of the National Economic and Development Authority (Neda) board which the President presided over as the chairman.
The “Philippine Rural Development Program” under the Department of Agriculture, aimed at increasing farm and fishery productivity and incomes in 16 provinces, got the biggest funding allocation of P27.5 billion.
For the transportation sector, the Neda board approved a P5.9-billion “Philippine Ports and Coast Guard Capability Development Project,” for the procurement of four brand-new 24-meter patrol boats and one 82-meter patrol boat.
But the two projects were “approved with conditions,” Malacañang said, but did not provide details as of press time.
Four other projects breezed through the Neda approval process.—Michael Lim Ubac