Private sector to finance bulk of Boracay rehab programs
MANILA, Philippines – The Boracay Inter-Agency Task Force adopted a medium-term action plan for the continued rehabilitation of the island, with the bulk of funding coming from the private sector.
The National Economic and Development Authority (NEDA) said that the plan for Boracay has 4 thematic areas: enforcement of laws and regulations, pollution control and prevention, rehabilitation and recovery of the ecosystem, and sustainability of island activities.
A total of 233 projects worth P25.27 billion for all thematic areas will be implemented. A total of P16.21 billion or 64% of the total will be allotted for infrastructure.
The private sector will finance P15.89 billion or 62.9% of the total cost.
“It primarily provides the strategic interventions to ensure the island’s rehabilitation over the medium-term and sustainable management over the long-term,” NEDA Undersecretary Adoracion Navarro said.
The proposed plan is still for approval of President Rodrigo Duterte. Once approved, the task force will implement it until 2022. – Rappler.com