State Dining Room, Malacañan Palace
February 27, 2024

President Ferdinand R. Marcos Jr. presided over the 14th National Economic and Development Authority (NEDA) Board Meeting at the State Dining Room in Malacañan Palace.

A pivotal project is underway in Davao City to construct a bypass tunnel, aiming to enhance transport logistics, alleviate congestion and bridge communities divided by geographical barriers. During the meeting, the Chief Executive and the NEDA Board approved requests for project modifications, including extensions for implementation periods and loan validity, as well as adjustments to costs and additional funding through supplemental loans.

On the other hand, the latest progress report on the Infrastructure Flagship Projects (IFPs) showed significant advancements in the fourth quarter of 2023, with a notable increase in projects moving forward, reflecting positive momentum in nationwide infrastructure initiatives. The report emphasized improved project performance, with fewer delays and more projects meeting or exceeding timelines, highlighting ongoing efforts to address delays for successful completion.

Furthermore, updates to the IFPs list aim to bolster national infrastructure and drive economic growth, with a meticulous formulation process involving endorsement by implementing agencies and NEDA approval. Similarly, the unveiling of the Integrated Water Resources Management Plan (IWRMP), endorsed by the Infrastructure Committee (INFRACOM), demonstrated the government’s commitment to coordinated water resource management across the economic, environmental, urban and rural households, and resilience dimensions, with a focus on governance reform, evidence-based policies, enhanced monitoring, and financing for vital water supply and sanitation investments.

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