WV’s 6-year dev plan needs P230-B investments

Tuesday 11th of October 2011

ILOILO CITY, Oct. 11 (PIA) -- Western Visayas would need P230 billion in investments to implement the projects identified in the Regional Development Investment Program of the Regional Development Plan for 2011 –2016, according to the National Economic and Development Authority (NEDA) here.

Based on the RDIP, the top 3 sectors that need substantial investment requirements over the next six years are Infrastructure Support with P153 billion (66 percent), Human Resource Development with P53.5 billion (23 percent), and Modern and Competitive Agriculture and Fisheries with P18.5 billion (8 percent).

The other sectors or concerns and their investment requirements are as follows: Competitive Industry and Service Sector, P1.8 billion; Tourism Development, P371 million; Research and Development Thrusts, P189 million; Biofuels and Renewable Energy Development, P10 million; Good Governance and Rule of Law, P493 million; Peace and Security, P1.6 billion; and, Environment and Natural Resources, P1.7 billion.

In terms of specific PPAs, the implementation of the Pantawid Pamilyang Pilipino Program or the Conditional Cash Transfer, which is a social development intervention being implemented by the DSWD, is the biggest investment.

NEDA 6 Director Ro-Ann Bacal said it is followed by the proposed rehabilitation of the Panay Railway System from Iloilo City to Roxas City, which is being packaged by Panay Railways, Inc. for Pubic-Private Partnership.

Another big-ticket project in the RDIP is the second phase of the Jalaur River Multipurpose Project, which will have irrigation, hydroelectric power, commercial water and flood control components.

This multi-component project is being proposed for a mix of Official Development Assistance (ODA) and Public-Private Partnership funding.

ODA is a loan or grant administered to promote the country’s sustainable social and economic development and welfare.

ODA resources must be contracted with governments of foreign countries with whom the Philippines has diplomatic, trade relations or bilateral agreements or which are members of the United Nations, their agencies and international or multilateral lending institutions.

Also requiring huge investments are the proposed bridges to connect the islands of Panay, Guimaras and Negros, regular programs of the Department of Health and Department of Agriculture, and the proposed Panay East-West Link Road between Northern Iloilo and Northern Antique.

The investment requirements will be sourced from the national budget including the Priority Development Assistance Fund (PDAF), foreign loans and grants, private funds, and local government units in the form of local borrowings or pubic investment financing, NEDA said.

NEDA said the programs, projects and activities in the RDIP are expected to put on the ground the strategies of the Regional Development Plan in order to achieve the targets leading to the attainment of regional development goals and objectives.

The Regional Development Plan, which was approved by the Regional Development Council (RDC) early this year and subsequently consolidated by NEDA 6 into its official document form, will serve as the blueprint for development in the region in the next six years.

RDC Chair and Capiz Gov. Victor A. Tanco, Sr. said the RDP also puts into concrete action and direction the National Development Agenda of President Aquino as spelled out in his Social Contract with the Filipino People. (NEDA6/JSC/JCM/PIA6)