Approved! NEDA Board okays additional funding for Cebu BRT project
The National Economic and Development Authority (NEDA) Board has approved the additional funding for Cebu City’s Bus Rapid Transit (BRT) Project during its meeting on Tuesday, the Malacanang said.
Palace Spokesperson Ernesto Abella said in a statement that the NEDA Board “approved the confirmation of the ICC-CC approval of the increase in cost of the CEBU BUS RAPID TRANSIT.”
The Cebu BRT project was one of the 10 projects which secured approval from the NEDA Board.
The Cebu BRT project will now get P16.9 billion funding from the initial P10.6 billion initial budget.
Other projects that secured the approval of the the NEDA Board during the Tuesday’s meeting were:
* approved the confirmation of the ICC-CC approval of DPWH’s improvement of Growth Corridors in Mindanao;
* approved the confirmation of the ICC-CC approval of DPWH’s Binondo-Intramuros and Estrella-Pantaleon Bridges construction project
* approved the ICC-CC 18 month Validity Extension of the ADB Loan for Improvement and Institutional Development Project
* approved and confirmed the METRO MANILA SUBWAY PROJECT, Phase 1
* approved the confirmation of ICC-CC approval of the PNR-South Long Haul and South Commuter Line line Projects
* approved the confirmation of of the ICC-CC approval of the Lower Agno Irrigation System Improvement Project
* approved the confirmation of ICC-CC approval of the change in mode of implementation for the Clark International Airport Expansion Project
* noted the Board ‘s ad referendum of the Infrastructure Preparation and Innovation Facility
* approved the confirmation of the ICC-CC approval of the Chico River Pump Irrigation Project subject to the inclusion of DOF in the Project Management Team and the regular monitoring of NEDA