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3 high-impact projects OK’d
PTVPhilippines
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2 years ago
3 high-impact projects OK’d
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00:00
connectivity was the overriding theme in today's NEDA board approval of three high-impact projects
00:06
to include linking farming locations and/or agrarian communities closer to each other
00:11
with 350 bridges measuring 350 linear meters in length, five multi-role ships for the Philippine
00:20
Coast Guard and the extension of the Tarlac-Pangasinan-La Union freeway.
00:25
The details in this report from our Kenneth Paciente.
00:31
Three high-impact projects were approved in the latest meeting of the NEDA board today
00:35
led by its chairman, President Ferdinand R. Marcos, Jr.
00:38
According to NEDA Secretary Arsenio Balisacan, among the approved projects is Phase 3 of
00:44
the Maritime Safety Capability Improvement Project of the Philippine Coast Guard.
00:48
Under this project, the arrival of five units of multi-role response vessels from Japan
00:53
is expected until 2028, the final year of the President's term.
00:58
This will aid the Coast Guard in responding to threats and incidents within the country's
01:03
maritime jurisdiction and may also assist in resupply missions at Ayungin Shoal.
01:08
The project will enable the Coast Guard to secure important sea lines of communication
01:14
in the West Philippine Sea, Sulu, Celebes Seas, and the Philippine Sea.
01:20
It will also help the Philippine Coast Guard combat illegal activities and enforce maritime
01:25
laws in the Philippine waters.
01:27
The total cost of this program amounts to Php 29.3 billion and will be financed under
01:32
the Official Development Assistance, or ODA, loan from Japan.
01:36
The Secretary explained that the Philippines has long discussed this matter with Japan.
01:41
The discussions were further fueled by the recent visit of Japanese Prime Minister Fumio
01:45
Kishida to the country last week.
01:47
But what about the interest rate on this loan?
01:50
The interest rates are lower than market rates.
01:54
And this kind of projects, it's the suppliers basically coming from the lending country.
02:03
These are long-term loans.
02:09
I don't have the numbers with me now, but these are normally over 20, 30 years.
02:17
These are long-term lending window of Japan.
02:21
The PBBM Bridges Project of the Department of Agrarian Reform was also approved with
02:26
a budget of Php 28.2 billion.
02:29
Under this, approximately 350 steel bridges with a total length of 10,500 linear meters
02:36
will be constructed in various locations across the country.
02:39
The approved project aims to increase the productivity and income of at least 350,000
02:47
households.
02:48
The ease of mobility and access to and from the agrarian reform communities will generate
02:54
more employment and address the community's need for better access to social services
03:01
and market outlets for their agricultural products.
03:04
Additionally, the NEDA Board approved the revised parameters, terms, and conditions
03:08
of the Tarlac-La Union Expressway or TPLX Extension Project.
03:12
The project was approved in June, adding a 59.4-kilometer-tall road to the existing expressway,
03:19
connecting the last exit of TPLX in Rosario-La Union to San Juan.
03:23
This is expected to further boost economic activities and address road congestion in
03:27
the areas it covers and adjacent regions.
03:31
NEDA also announced the completion of the Summer Pacific Coastal Road, which spans 18.65
03:36
kilometers and connects the towns of Lawang, Catubig, and Palapag through the circumferential
03:41
road around Samar Island.
03:44
This project is one of the 197 infrastructure flagship projects of the current administration.
03:50
The Marcos administration remains steadfast in its dedication to enhancing connectivity,
03:55
ramping up employment, creating investments, and significantly improving living standards
04:01
for every Filipino by ensuring the efficient implementation of these high-impact projects.
04:08
We will continue with our commitment to pursue important initiatives to ensure social and
04:13
economic transformation towards a matatag, maginhawa, at panatag na buhay para sa lahat.
04:20
Kenneth Paciente, for the Nation.
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