Tue, 23 Jul 2019

NEDA guarantees spread of economic growth through infra projects

Philippine Information Agency
19 Jun 2019, 16:38 GMT+10

National Economic and Development Authority Secretary Ernesto M. Pernia guarantees the spread of inclusive growth and development across the country upon the completion of the infrastructure projects under the Build-Build-Build program. (Carmela Jane F. Villar/PIA 3)

CLARK FREEPORT ZONE, Pampanga, June 19 (PIA) -- National Economic and Development Authority (NEDA) guaranteed the spread of inclusive growth and development across the country upon the completion of the infrastructure projects under the Build-Build-Build program.

"The projects target to bring development not only in Metro Manila but also in other regions. We target to deliver the projects, mostly located in Mindanao, as soon as possible," NEDA Secretary Ernesto M. Pernia told reporters at the conclusion of the 8th High Level Meeting of the Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation held in Clark.

"Data on the Gross Regional Domestic Product (GDRP) shows that Mindanao has been neglected. We hope that these projects will raise the level of GDRPs of Mindanao regions," he stressed.

The official furthered that the accomplishment of the projects under the masterplan will narrow down the disparity in the level of development of the regions.

"The idea of having infrastructure projects in the region is to diminish the inequality and to make the regions connected with each other," he stated.

Also, such projects will connect the lagging regions with the leading ones and mainstream economy.

Relative to this, the Philippines signed Tuesday evening a loan agreement with the government of Japan for a US$202.04 million or Y21.9 billion loan for the road network development project in conflict-affected areas in Mindanao.

This involves the construction, rehabilitation, and improvement of 176.6 km of roads linking the Bangsamoro Autonomous Region in Muslim Mindanao to the trade centers of Mindanao.

Other projects outside Metro Manila under the Build-Build-Build program include the North-South Commuter Railway Project, Davao City Bypass Construction Project, and New Mactan Bridge Construction Project in Cebu.

Pernia and Finance Secretary Carlos Dominguez III chaired the Philippine side while Dr. Hiroto Izumi, Special Adviser to Prime Minister Shinzo Abe, led the Japanese delegation during the meeting. (CLJD/TJBM-PIA 3)

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