The Project Development and Monitoring Facility (PDMF) Committee approved on March 28 for PDMF fund support the conduct of the feasibility study (FS) and transaction advisory services for the operation and management of the Cebu Bus Rapid Transit (BRT) project.
The Department of Transportation tapped the PDMF, a revolving fund available to government agencies for pre-investment activities of Public-Private Partnership (PPP) projects. This fund is managed by the Public-Private Partnership (PPP) Center.
The DOTr envisions that the development and implementation of the Cebu BRT will address traffic congestion in Cebu City. The Project was previously approved by the NEDA Board on May 29, 2014, with the BRT infrastructure to be financed through loans from the Agence Francaise de Developpement (AFD), the International Bank of Reconstruction and Development (IBRD), and the Clean Technology Fund (CTF); and the right of way acquisition to be financed by the government. The PPP component of the project shall involve the procurement of buses, operation and management of bus services, and procurement and installation of all required equipment, associated facilities and IT systems for the BRT’s operation, maintenance, planning and monitoring. It aims to improve mobility in Cebu by providing a safe, environment-friendly and efficient mode of travel.
This is one of the latest projects for which the PDMF fund will be used to conduct feasibility studies. Last January 18, the PDMF Committee also approved the funding for the conduct of feasibility studies and transaction advisory services for the San Ramon Newport Project, a project spearheaded by the Zamboanga City Special Economic Zone and Freeport (ZamboEcozone) Authority.