P550M fund for annual investment program OKd

CEBU, Philippines - The Cebu City Council and the City Development Council (CDC) will start the implementation of projects covered under twin measures endorsing the Annual Investment Program (AIP) with a total budget of P550 million.

Engr. Oscar Abordo, project evaluation officer of the Cebu City Planning Development Office said the two resolutions were approved in both CDC and the City Council last year.

“Na approve naman sa CDC ug SP. Ang proponent na sa mga projects and mo-process para sa bidding then implementation dayon,” Abordo said.

Abordo said the CDC approved Resolution No. 06-0621 dated October 14, 2013, while the City Council passed the Sangguniang Panglungsod Resolution No. 13-1437 dated December 18, 2013.

He said social development projects will cost at least P212,306,004.52; economic-related projects will have P212,339,504.42; and environmental projects will be funded with P125,774,144.00 of the budget.

The CDC resolution said the funds for these projects will originate from the Local Development Fund (LDF) of the city, he said.

He said that there are 51 projects for the social development aspect, while 43 are economic-related projects. (FREEMAN)