Vol. XXI, No. 228-A [ BusinessWorld Online ]
Saturday, June 21, 2008 | MANILA, PHILIPPINES
The National Economic and Deveopment Authority (NEDA) said in a statement yesterday that it would need an estimated P114 billion to implement projects under the Cagayan Riverine Development Framework Plan (CRDFP) for 2005 to 2030.
The amount would cover flood mitigating projects; structural projects; bank protection projects; construction of dams in Matuno, Tumanuini, iffu, Maig, Alimit, and Kalipkip, as well as the construction of small farm reservoirs.
Of the amount, the resettlement of affected families and the recontruction of dam would require the biggest financing of P1.68 bilion each.
Funding of P114 billion is expected to be sourced from official deveopment assistance and from local government units.
CRDFP is designed to mitigate destruction from fooding, improve water quality and supply, especially for for dometic, industrial and agricultural use in the dry months.
It was approved in 2005 by the Regional Development Coucil. Last March, a Memorandum of Agreement which provides for the synchronization of the activities stipuated in the plan was signed by the provinces of Cagayan, Isabel, Quirino and Nueva Vizcaya; the cities of Santiago, Cauayan and Tuguegarao; as well as Regional Development Council 2, Regional Deveopment Coordinating Council, and the Regional Peace and Order Council.
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