• New foreign aid helps increase PPP projects to 15

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    From the original five public-private partnership (PPP) projects targeted by 2013, the number has gone up to 15 because of the additional foreign financial aid.

    The Asian Development Bank (ADB) and the Australian Agency for International
    Development (AusAID) contributed a total of $15 million, $12 million of which will be for the Project Development and Monitoring Facility (PDMF) which funds PPP projects of the country, and $3 million for “capacity building and institutional strengthening.”

    “We are happy to provide additional support to the government for its positive momentum,” said Neeraj Jain, ADB country director to the Philippines.

    “Australia remains a strong supporter of the Philippine govern-ment’s PPP agenda with our increased funding support,” said Bill Tweddell, Australian ambassador to the Philippines.

    The Canadian government, on the other hand, handed PDMF $3 million for capacity building and institutional strengthening of PPP.

    “The support to PPP is in line with the government of Canada’s plan to broaden our engagement with the private sector as the driving force behind sustainable economic growth,” said Christopher Thornley, Canadian ambassador to the Philippines.

    According to Jain, the PDMF is funding a total of 25 PPP projects from total investments over $4.2 billion.

    As of press time, an education project and two tollway projects are being bidded out, one of which will receive aid from PDMF.

    Australia and Canada have been providing funding support to the government for a long time.

    Kristyn Nika M. Lazo

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