In particular, the loan proceeds financed rolling stock procurement and installation of facilities for the LRT lines being extended to the provinces of Cavite down south and Rizal east of Metro Manila.
Both projects are part of the 104 projects in the pipeline of President Duterte’s “Build, Build, Build” program, which also underwent a review in light of the COVID-19 pandemic. Chua did not disclose the other projects that the Neda Board recently granted its go-ahead, only saying that these would be announced soon.
As of November last year, eight projects funded by the national budget and ODA were pending approval by the Investment Coordination Committee-Cabinet Committee cochaired by Chua and Finance Secretary Carlos Dominguez III.The Updated Philippine Development Plan 2017-2022—the Duterte administration’s medium-term socioeconomic blueprint to ultimately reduce poverty and recover from the socioeconomic ills inflicted by COVID-19—is also awaiting Neda Board approval.
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