Cost of Philippines’ Infrastructure Flagship Projects Rises to P9 Trillion

MANILA – The National Economic and Development Authority (NEDA) Board has announced an update to the administration’s Infrastructure Flagship Projects (IFPs), resulting in a reduced number of projects but an increased total cost, now estimated at PHP9.14 trillion, up from PHP8.7 trillion at the end of 2023.

According to Philippines News Agency, chaired by President Ferdinand R. Marcos Jr., this revision was approved on Tuesday, with the goal of prioritizing high-impact infrastructure projects under the Build Better More Program.

The recent adjustments to the IFP list include the delisting of 36 projects and the addition of 23 new ones, bringing the total to 185 projects. “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,” explained NEDA Secretary and the Board’s Vice Chair Arsenio Balisacan.

Balisacan also stated that the 36 projects removed from the IFP list would continue as planned under the regular government program, ensuring that these initiatives will still be carried out despite their exclusion from the flagship list.

NEDA Undersecretary Joseph Capuno further informed the NEDA Board that 74 of the IFPs are currently under implementation, with 19 of these projects expected to be completed in 2024. Highlighting the progress of these ambitious initiatives, the administration celebrated the completion and inauguration of the 11.6-kilometer Samar Pacific Coastal Road Project last year, a significant infrastructure development listed among the government’s IFPs.

As of the fourth quarter of the previous year, 30 IFPs had been approved, and 83 were in the preparation stage, indicating a robust and ongoing effort to enhance the country’s infrastructure landscape.