ED Council OKs higher cost for US-backed projects

The Economy and Development Council (ED Council), chaired by President Marcos, has approved requests from government agencies to increase the cost, as well as extend the implementation and validity period of development objective agreements (DOAgs) supported by the United States.

- By LOUELLA DESIDERIO

Balisacan

In a statement, the Department of Economy, Planning and Development (DEPDev) said the ED Council approved during its Oct. 2 meeting the increase in the cost of the Department of Health’s Improved Health for Under-served Filipinos initiative to $524 million from $224 million.

The cost increase is aimed at sustaining the aim of improving health outcomes among underserved populations.

Also approved was the cost increase for the Enhanced Ecosystem and Community Resilience to $250 million, up from $150 million, to enhance the ability of natural systems to provide ecosystem services and mitigate the impacts of climate change.

During the same meeting, the ED Council approved the extension of the implementation period of the Economic Growth and Democratic Governance with Equity initiative until Sept. 30, 2027, to further strengthen macroeconomic fundamentals and promote open governance in support of inclusive growth.