PPP Center head Cosette Canilao resigns

MANILA, Philippines – President Benigno Aquino III on Monday, February 22, accepted the resignation of Public-Private Partnership (PPP) Center Executive Director Cosette Canilao.

In her resignation letter submitted January 27, Canilao said she will step down on March 8 due to “pressing family concerns.”

“It is with a heavy heart, but with much optimism of a better future ahead for the country’s PPP program that I step down from my post effective March 8, 2016. Serving the country as the Executive Director of the Public-Private Partnership Center has been the greatest privilege entrusted to me,” Canilao said in a statement on Monday.

Before working for the government, Canilao worked as an investment banker, dealing with various project developments, sales of non-performing assets, and bank-related concerns.

It was the late Cayetano Paderanga Jr who recruited Canilao into government. She first worked as a consultant of the National Economic and Development Authority (NEDA) for the PPP Center.

Canilao was then appointed as PPP Center Executive Director in October 2011.

During her stint, the PPP Center was able to award 12 projects. It still targets to complete the construction of 5 awarded deals before Aquino’s term ends in June.

This is versus the 6 solicited PPP deals implemented by the previous 3 administrations. (READ: Aquino: More PPP projects awarded than past 3 admins)

“We now have a long list of projects that the private sector will hopefully continue to participate in. We have installed in our processes and legal framework a means of instituting continuity and transparency,” Canilao said. (READ: PH’s PPP thrust: Work in progress)

Replacement

Canilao recommended Andre “Raj” Palacios, who has been with the PPP Center for over a year as a consultant, to replace her as PPP Center head.

“He is highly reliable with unquestionable integrity and equipped to take on the gargantuan task of leading the Center. He has also established a very good relationship with the officers and staff of the Center,” she said in her letter.

The PPP Center still has about 60 PPP deals in the pipeline. It is actively marketing these deals to foreign investors through international roadshows.

According to Canilao, she is “confident” that the next administration will continue what her office has started by “locking in and jumpstarting crucial infrastructure deals like airports and railways.”

“I leave the Center confident that the people who will be continuing on are steadfast, well-equipped and up to the challenge of making the program better than it is today,” the PPP Center chief said. – with a report from Chrisee Dela Paz/Rappler.com