By Louise Maureen Simeon | The Philippine Star
May 19, 2023
MANILA, Philippines — The government targets to pour in at least P1.2 trillion worth of infrastructure projects in Mindanao over the course of the Marcos administration’s term.
Department of Finance Secretary Benjamin Diokno said the government is committed to provide resources for Mindanao’s infrastructure development in a bid to boost economic growth in the island.
Based on the Public Investment Program (PIP), 35 percent or 1,310 out of the 3,770 priority programs and projects of the government will be located in Mindanao over the next six years.
The planned Mindanao projects have a combined investment of at least P1.2 trillion.
The investments will on top of the at least 30 out of the 194 high-impact infrastructure flagship projects that will support investments in Mindanao.
These include the Mindanao Railway, Samal Island-Davao City Connector, Cagayan de Oro Coastal Road, Davao City Expressway, and preparations for the new Zamboanga Airport, Bukidnon Airport, and Siargao Sayak Airport.
This, as the government intends to sustain the annual infrastructure spending at five to six percent of the economy.
“The idea is to link and integrate markets, connect urban centers to rural areas, and facilitate the movement of people and goods to expand access to more opportunities for local industries. Ultimately, this will boost productivity,” Diokno said.
Further, the Mindanao projects are seen adopting a mix of financing from various development partners through official development assistance (ODA), general appropriations, and public-private partnerships (PPPs).
As of end-2022, there are 97 active or ongoing ODA-loan and grant funded projects and programs being implemented in Mindanao.
There are also 35 ongoing projects with total loan and grant commitments of $4.2 billion from bilateral and multilateral development partners.
The DOF has likewise committed to assist Mindanao in its implementation of the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Vision 2025 to make Mindanao a key economic driver in the sub-region.