3 high-impact projects OK’d
3 high-impact projects OK’d
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NewsTranscript
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.