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NEDA assures spread of economic growth through infra projects

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CLARK FREEPORT – The spread of inclusive growth and development across the country was guaranteed by the National Economic and Development Authority (NEDA) upon the completion of the infrastructure projects under the Build-Build-Build program.

NEDA Secretary Ernesto M. Pernia said the projects target to bring development not only in Metro Manila but also in other regions.

“We target to deliver the projects, mostly located in Mindanao, as soon as possible,” Pernia said at the conclusion of the 8th High Level Meeting of the Philippines-Japan Joint Committee on Infrastructure Development and Economic Cooperation held in this freeport.

“Data on the Gross Domestic Regional Product (GDRP) shows that Mindanao has been neglected. We hope that these projects will raise the level of GDRPs of Mindanao regions,” he stressed.

He also said the accomplishment of the projects under the masterplan will narrow down the disparity in the level of development of the regions.

“The idea of having infrastructure projects in the region is to diminish the inequality and to make the regions connected with each other,” he said.

He added that such projects will connect the lagging regions with the leading ones and mainstream economy.

In line with this, the Philippines signed on Tuesday evening a loan agreement with the government of Japan for a $202.04 million or Y21.9 billion loan for the road network development project in conflict affected areas in Mindanao.

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