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By Darwin G. Amojelar, Reporter
THE National Economic and Development Authority
Investment Coordination Committee-Cabinet Committee (NEDA-Cabcom)
has approved multibillion-peso loans from Japan Bank for
International Cooperation (JBIC) and the Korean government to fund
social, power and environmental projects.
Documents showed the NEDA-Cabcom approved the
P10.1-billion JBIC loan to finance environmental development
projects.
The project is a re-lending facility that the
Development Bank of the Philippines (DBP) proposed to finance
projects on water supply and sanitation, new and renewable energy,
industrial pollution control and solid/health care/hazardous waste
disposal.
The facility aims to provide local governments,
government-owned and controlled corporations,
cooperatives/associations, water districts, private corporations and
private water service providers with mid- and long-term funds
through DBP and its conduits. The package comes with technical
assistance to mobilize, encourage and support activities and
investments in environment-friendly projects.
In addition, the NEDA-Cabcom approved the
Korea-Economic Development Cooperation Fund (EDCF) compact loan
facility to finance development project loans or equipment loans
amounting to $3 million, or P133.5 million. The $20-million
allocation for compact loans shall be sourced from the $300-million
EDCF facility.
Last year, the government of the Philippines,
represented by the Department of Foreign Affairs, signed with the
Korean government a framework arrangement concerning loans from the
EDCF for the years 2007 to 2009.
The NEDA said the eligible projects for possible
funding under EDCF include those in the areas of environment and
sanitation, health and medical care, information technology,
education, and electric power.
“Equipment purchases for and other activities
related to ongoing Korean-assisted projects are also eligible but
these would be treated as entirely new proposals,” the NEDA said.
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