The government expects to finish 29 flagship infrastructure projects worth P238.48 billion before President Rodrigo R. Duterte’s term ends in 2022. It has added 13 more projects for a total of 119 projects worth P4.73 trillion, presidential adviser for flagship infrastructure projects Vivencio B. Dizon said.
Mr. Dizon said 11 projects worth P126.76 billion have been completed. Fifty-one projects worth P3.28 trillion are expected to be finished beyond Mr. Duterte’s term. Twenty-eight projects worth P1.09 trillion are in the pipeline, he added.
Some projects had been canceled as the state tries to be fiscally prudent amid a coronavirus pandemic.
Economic Planning Secretary Karl Kendrick T. Chua said the government had programmed P1 trillion worth of infrastructure projects in the past three years excluding 2020 because of the coronavirus pandemic.
“We have a strong pipeline to ensure that the next administration will have a very good starting point to build on the progress we have so far,” he said. “We will continue to welcome all possible financing options.”
The government has a P1.02-trillion infrastructure spending plan for the year.
Meanwhile, the World Bank said it had approved a P13.5-billion loan for the Philippines to boost infrastructure projects in the countryside.
The loan is an additional financing for the Philippine Rural Development Project and will be complemented by a newly approved P1.06 billion grant, the multilateral lender said in a statement.
The bank expects more than 300,000 Filipinos in rural areas to benefit from the project.