June 3, 2012, Yahoo News
CLARK FREEPORT, Pampanga – A wave of infrastructure and services delivery projects is underway in the country as the Asian Development Bank (ADB) and the Government of Australia provided some $15.5-million (P666-million) fund to help sustain the momentum of the Philippines’ Public-Private Partnership (PPP), the National Economic Development Authority (NEDA) revealed.
NEDA-PPP Center Executive Director Cosette V. Canilao said that the support provided by ADB and the Government of Australia is a vital vote of confidence on the nation’s PPP agenda and the reforms aimed at transparency it has instituted through the PPP program.
”This in itself marks another milestone for the government’s efforts to improve infrastructure and services delivery through PPPs,” he said.
Canilao explained that the Government of Australia, through the Australian Agency for International Development (AusAID), is providing an additional $15 million through a grant administered by ADB, over the $7 million allotted last year.
NEDA explained that the sum of $9 million augments the Project Development and Monitoring Fund (PDMF), which is a revolving fund used to finance pre-investment studies of selected PPP project proposals.
It added that the amount of $6 million is pegged for more capacity building of government agencies to enable them to draw up quality PPP proposals. ADB is also assigning $500,000 for capacity-building.
In a joint ADB-Australia statement, Neeraj Jain, ADB’s Country Director for the Philippine, said that ADB is pleased to note the progress in the government’s PPP program and reforms.
”Due to the efficiency and transparency the PDMF offers the government agencies for PPP project preparation, the demand for PDMF funds has grown fast. We are happy to provide additional support to the government to sustain this positive momentum,” Jain said in the statement.
Australian Ambassador to the Philippines Bill Tweddell, for his part, said: ”Australia views the PPP reforms very positively. It will improve governance by putting the Philippine government in the driver’s seat to plan and implement quality infrastructure projects. It will also draw vital private sector investment into the country to fund essential infrastructure services that benefit all Filipinos. That is why we are such a strong supporter of the Philippine government’s PPP push.”
Working with the National Economic and Development Authority and the Public-Private Partnership Center, the ADB and AusAID also help the government develop a stronger policy, legal and regulatory environment for PPPs.
