The Asian Development Bank said it extended a $105-million assistance to help improve and speed up the rollout of major infrastructure projects of the Duterte administration.
It said the amount included a $5-million aid and $100-million loan.
Under the $5-million aid, the Department of Transportation proposed that preparation activities for the Tagum-Davao-Digos segment of the Mindanao Rail Project be covered by the ADB grant, while the National Economic and Development Authority aims to tap it to help prepare for the recently-approved Project Facilitation, Monitoring and Innovation Task Force.
Under the $100-million loan, the Philippine government will provide a counterpart fund of $60 million to set up an Infrastructure Preparation and Innovation Facility to support initiatives of the DOTr and the Department of Public Works and Highways in conducting pre-investment activities.
The Infrastructure Preparation and Innovation Facility will include support for feasibility studies, detailed engineering design, preparation of bid documents, due diligence review and other activities that will improve the preparedness of the DOTr and DPWH in implementing public infrastructure projects.
The Neda board chaired by President Rodrigo Duterte approved the IPIF on Sept. 12, 2017 based on the recommendation by the Investment Coordination Committee-Cabinet Committee chaired by Finance Secretary Carlos Dominguez III.
Besides the $105-million in technical assistance from the ADB, the government can also tap about $3.68 billion in loans and another $23.1 million in the form of non-lending programs to help fund its accelerated spending programs on infrastructure and social services from 2018 to 2020.
