A total of PHP27.884 billion will fund the development of Central Visayas in the next two years as the Regional Development Council (RDC) Full Council on Friday approved the Annual Investment Program (AIP) for fiscal year 2020.
RDC 7 (Central Visayas) Full Council presiding officer, Kenneth Cobonpue, said the amount will finance the four sectors – development administration, social development, infrastructure development, and economic development – to achieve eight objectives laid down in Central Visayas’ regional development plan (RDP).
“The amount represents the initial annual investment requirement because the Department of Public Works and Highways (DPWH) 7 still has to submit the list of infrastructure projects that will be funded in the 2020 budget,” Cobonpue said.
Record showed that the infrastructure development sector has the third highest budgetary requirement for 2020, as DPWH-7 has yet to submit to the RDC-7 its proposed infrastructure projects.
Of the four sectors, social development will get the highest investment requirement in the amount of PHP11.371 billion, followed by economic development with PHP.589 billion.
“We need to invest in social development. That PHP11.371 billion will finance our health, social development, and education sectors,” Cobonpue said.
The region’s health programs will get PHP1.678 billion, while social welfare and development will also get PHP9.408 billion. The three state universities and colleges (SUCs) in the region – Cebu Normal University, Siquijor State Colleges, Bohol Island State University – will get a total of PH284.709 million.
The economic development sector will be financed with PHP8.589 billion, the RDC-7 annual investment program showed.
The region’s agricultural programs obtained the highest investment requirement in the amount of PHP6.246 billion, followed by the coconut industry development in the amount of PHP1.1 billion.
Tourism infrastructure and enterprise will only have P385 million.
The infrastructure development ranks third with only PHP7.395 billion of investment, as DPWH-7 will still have to complete their proposals for infrastructure projects.
The lowest investment requirement goes to the administrative development sector in the amount of PHP527 million.
National Economic and Development Authority (NEDA) 7 Director Efren Carreon said the plans, actions, and programs (PAPs) in the Central Visayas annual investment plan shall be the basis of the RDC-7 in endorsing the projects and programs to the budget proposal of the national government agencies in 2020.
