Manila, Philippines — The Public Financial and Advancement Authority (NEDA) Board, led by President Ferdinand R. Marcos Jr., approved the addition of 23 new projects and the removal of 36 old projects from the list of Infrastructure Flagship Projects (IFPs) under the Build Better-More program during its fourteenth gathering, last February 27, 2024.
This change currently carries the complete number of IFPs to 185 projects, with a worth of PHP 9.14 trillion.
NEDA Secretary Arsenio M. Balisacan, who fills in as the NEDA Board Vice Chair, clarified that the most recent advocacy expects to focus on critical projects to guarantee they get the vital help for productive and sped-up implementation.
“Our list of IFPs under the Build-Better-More Program serves as a prioritization tool to identify high-impact infrastructure projects that require immediate government support. By rationalizing the list, we ensure the implementation of as many important infrastructure projects of high significance as possible,” Balisacan indicated.
Meanwhile, NEDA Undersecretary Joseph J. Capuno answered the general progress of the activities from the past IFP list to the NEDA Board. As of the final quarter of 2023, 74 IFPs were being carried out, 30 had been approved for implementation, 10 were anticipating government approval, and 83 were going through either project or pre-project preparation.
In 2023, one undertaking on the IFP list, the Samar Pacific Coastal Road Project, was finished on June 30 and introduced on July 14.
Among the 74 continuous projects, 19 are booked to be finished for the current year.
“We will continue to monitor, review, and update the list of IFPs as necessary to prioritize the most important infrastructure projects. The NEDA Board is committed to approving measures needed to expedite the implementation of the Build-Better-More Program,” the government’s chief economist said.
Source: NEDA