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MANILA, Philippines -- President Benigno Aquino III approved four projects worth P21.2 billion at Tuesday’s National Economic Development Authority Board meeting at the Palace.
Two projects -- the P5.69-billion modernization of the Philippine Orthopedic Center and the P3.92-billion Basic Education Assistance for Muslim Mindanao -- were fully approved.
The two remaining projects -- the P8.9-billion development objective agreement between the Philippines and the United States on family health and the P2.7-billion additional funding for the World Bank-assisted second Land Administration and Management Project -- were approved conditionally.
“The two projects were approved on condition that the breakdowns of the amounts be validated,” Presidential Communications Development Secretary Ramon Carandang said.
The NEDA Board also approved the 2012 harmonized tariff nomenclature as part of the country’s commitment as a member of the Association of Southeast Asian Nations.
It also approved the 9th Regular Foreign Investment Negative List of all activities and fields where foreign investment is limited or banned.
The list will be valid for the next two years.