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NEDA: Rebuilding Marawi to cost P53.4B excluding ‘ground zero’

NEDA: Rebuilding Marawi to cost P53.4B excluding ‘ground zero’

FILE PHOTO: Community leaders survey damaged houses and buildings inside war-torn Marawi, Philippines January 13, 2018. REUTERS/Tom Allard

MANILA, Philippines – The National Economic Development Authority (NEDA) estimates that the government will have to allot P53.4 billion for the rehabilitation of the conflict-torn city.

However, the fund does not cover the amount needed for the repair of the entire ground zero or the most damaged area in the city.

NEDA said a huge chunk of the P53 billion has to be used this year. It will cover the more than 800 priority programs, projects and activities the government target to finish until 2022.

“We have something to start with, I think that’s the most important thing, we’re for almost half of the year over. Getting started is what is important,” said NEDA Secretary Ernesto Pernia.

In NEDA’S breakdown, P26.148 billion is needed for physical infrastructure; P5.867 billion for social services and more than P10.383 billion for housing settlements; P7.765 billion for livelihood and business development; P1.251 billion for local governance and peace-building and P2.004 billion for land resource and management.

The agency noted three fund sources for the rehabilitation of Marawi city. First is from the 2018 National Budget and second is from donations of private and non-government agencies, non-profit organizations. The fund can also be sourced from the official development assistance (ODA.)

Figures presented by NEDA showed that a huge part of the P53 billion will come from the fund of the National Disaster Risk Reduction and Management Fund that reaches P24.8 billion. The other needed amount will be taken from other sectors.

NEDA said the estimated fund for the rehabilitation might still increase depending on the recommendations of stakeholders.

Despite this, NEDA is confident that the government can address concerns regarding the restoration of Marawi City to its former glory before the Maute siege.

“You know the leadership is determined to get Marawi back on its feet…”Bangon Marawi” ang tawag. There are commitments,” concluded Pernia. — Joan Nano | UNTV News & Rescue

The post NEDA: Rebuilding Marawi to cost P53.4B excluding ‘ground zero’ appeared first on UNTV News.

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