Diokno said this fund is also intended to pump prime the economy as this is expected to stimulate growth in the countryside.
"It covers major strategic road networks vital in stimulating business activities and generation job opportunities in the countryside," he said.
The budget chief said the release was sourced from the year 2000 budget of the Department of Public Works and Highways (DPWH) appropriated under its maintenance and other operating expenses.
Of the P500 million, P440.6 million or almost 90 percent will go to the countrywide where public infrastructure spending is being given priority.
He said major recipients of the P500-million include the maintenance, asphalt overlaying and concrete reblocking of major roads in Central Luzon, the regions of Southern Tagalog, Ilocos and Western and Central Visayas.
Among the big ticket projects, he said, include: the P29.34-million asphalt overlaying along Sayre Highway Puerto Alae Section in Cagayan De Oro and Bukidnon and similar projects in Cavite-Batangas Road with P28.6 million; P28-million asphalt overlay along Calamba-Famy Junction in Laguna, P28 million; Manila South Road, P24 million; and P15.9-million reblocking of concrete pavement along Samar-Leyte Road, Hinabangan-Calbiga Road Section.
The amount of P72.4 billion is expected to be allocated for public infrastructure for 2001. This amount is seen to further stimulate growth in the economy next year. – Donnabele Gatdula