THE total estimated amount of the government’s approved infrastructure project is down to P8.167 trillion from P9 trillion after officials cleaned datasets containing projects with “redundant” funding sources.
Finance Secretary Benjamin E. Diokno explained that the total amount of the 194 infrastructure flagship projects (IFPs) was lowered after the National Economic and Development Authority (Neda) found the “redundancies.”
Diokno explained in a recent press briefing, “Sometimes what is listed is GAA/PPP [General Appropriations Act /Public-Private Partnership]. They now have a better handle of the funding sources.”
Based on data released by the DOF, the bulk of the funding source for the IFPs or about P4.51 trillion would come from Official Development Assistance (ODA) while P2.51 trillion will be bankrolled via PPP scheme.
The government through the GAA will finance P850.58 billion of the IFPs costs while P95.42 billion will be a mix of GAA and PPP. About P64.92 billion of funding source would come from combined ODA and PPP.
The DOF data also showed the funding source for P24.04 billion is still being determined while the remaining P7.37 billion would be bankrolled via PPP/Port Terminal Management Regulatory Framework.
The DOF data showed that of 194 IFPs, about 119 would be in the sector of physical connectivity, with a total project cost of P6.768 trillion. The government has also approved 44 projects related to water resources amounting to P679.42 billion; and 14 agriculture-related projects worth P355.62 billion.
In the health sector, six projects with a total cost of P198.06 billion were approved; for digital connectivity sector (P115.05 billion), there are five; and another five projects in other infrastructure (P43.04 billion). There is only one project in the power and energy sector, worth P10.19 billion.
“As of May 9, 2023, there are 68 ongoing projects, 25 for implementation, 9 for approval, 52 under project preparation, and 40 under pre-project preparation—for a total of 194 IFPs,” Diokno said.
The DOF said 19 of the ongoing IFPs and those approved for implementation are expected to be completed by end-2023. Overall, 79 projects will be completed from 2023 to 2028.