BY DARWIN G. AMOJELAR Senior Reporter

THE Cabinet Committee of the National Economic and Development Authority (NEDA) has approved multibillion-peso worth of loans to fund infrastructure and environmental projects.

Documents showed the NEDA-Cabcom approved the P6.11-billion Northrail-Southrail Linkage Project Phase 2 (NSLP 2).

The project would be financed by an official development assistance loan from the Korean government through the Economic Development Cooperation Fund.

The NSLP 2 is the second phase of the project to rehabilitate/improve and upgrade the Philippine National Railway’s (PNR) South Commuter Rail Line.

The first phase will run from Caloocan to Alabang, and was approved on January 2003. The second phase will run from Alabang to Calamba.

The proposed project involves the rehabilitation, iimprovement and upgrade of the existing 27.105-kilometer PNR rail line from Alabang to Calamba through the addition of new tracks along the entire length, rehabilitation of existing single rail such as supply of ballasts, concrete sleepers and embankment, repair and construction of bridges and culverts, improvement of drainage system, level crossing with the standard signage system, improvement of stations and flag stops and acquisition of six sets of Diesel Multiple units for a total of 18 cars.

The project would be completed within 48 months from the effective date of the loan agreement starting in 2010 and ending in 2013.

Operations will start in 2014.

The NEDA-Cabcom also approved the request of PNR to increase the project cost of NLSP Phase 1 by P107.38 million from the NEDA Board-confirmed cost of P4.05 billion to P4.2 billion.

The additional cost will fund the change in project scope such as the procurement of one three-car train set, reconstruction of the Paco Station Building, among others.

The NEDA-Cabcom also approved the P1.02-billion Iloilo Circumferential Road Project, which aims to decongest the city proper area by distributing traffic to and from intersecting radial roads.

The project is being proposed for funding under the Millennium Challenge Account Philippine Compact Program.

The project would be implemented for five years starting 2010.

In addition, the NEDA-Cabcom granted the additional loan of $10 million for the Laguna de Bay Institutional Strengthening and Community Participation (LISCOP) Project.

LISCOP aims to improve the environmental quality of the Laguna de Bay watershed, and to strengthen the development governance that will support the lake’s sustained management. The World Bank will fund the project.