Donors could double their support for a revolving fund backing feasibility studies on public-private partnership projects in the Philippines, according to a senior Philippine government official.
Philippine National Economic and Development Authority Director-General Cayetano Paderanga Jr. told Philippine daily BusinessMirror that the country’s development partners “approached us that they are willing to recommend an increase in their assistance” to the Project Development and Monitoring Facility. He estimated the new funding to be between $11 million and $13 million.
The Philippine government, according to Paderanga, has set aside 160 million Philippine pesos ($3.6 million) in counterpart funding for PDMF in 2012.
PDMF finances pre-investment studies but is reimbursed for the expense by the winning bidder once the PPP project is awarded. PDMF is managed by the PPP Center.
PPP Center chief Cosette Canilao expects the current resources of 550 million Philippine pesos to run out by mid-2012 — 284 million Philippine pesos has already been spent on feasibility studies for 10 of 16 PPP projects scheduled to be implemented this year.
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