The Project Development and Monitoring Facility (PDMF) Committee on Friday approved the provision of project development, transaction advisory and management of competitive challenge support for three (3) upcoming PPP projects.
The PDMF Committee is the approving body for project support applications to the PDMF, a revolving fund used to engage consultants to help develop bankable PPP projects and ensure effective monitoring of project implementation.
The projects that were approved for PDMF support are: the Cultural Center of the Philippines (CCP) Asset Development Project, the Davao Sasa Port Modernization Project, and the Development, Operation and Maintenance of the General Santos Port Project.
The CCP Asset Development Project involves the redevelopment of a 57.08-hectare area within the CCP Complex in Pasay City into a “smart city” composed of iconic buildings envisioned to serve as venues for various cultural and artistic endeavors. The approved PDMF support for this project includes the development of a feasibility study, and project assistance and advisory from procurement to financial close.
The PDMF support for the Davao and General Santos Port projects, on the other hand, shall focus on providing assistance in managing the competitive challenge process for the two (2) unsolicited joint venture proposals. The proposals involve the rehabilitation, upgrading, and operations and maintenance of the Davao Sasa Port and the Port of General Santos, respectively.
Since 2010, seventeen (17) PPP projects with a total project cost of Php 328.67 billion have been awarded to private sector partners, twelve (12) of these projects received PDMF support. A total of thirty-six (36) projects received PDMF support for project development, transaction advisory, and monitoring services.
The PDMF is available to all national agencies and local government units to assist them in the complete life cycle of a PPP project – from project development, procurement to monitoring and implementation. The PDMF is managed and administered by the PPP Center.