State-run Bases Conversion and Development Authority said its contribution to the Armed Forces of the Philippines modernization program in 2017 tripled to P4.8 billion, the highest amount in 10 years.
The amount represents a 300-percent increase from the average annual contribution of P1.5 billion since 2006 to 2015. It also doubled from the 2015 remittance of P2.2 billion.
BCDA raised a total of P36.6 billion for the AFP modernization program which is allocated for the purchase of military equipment to ensure sustained capability upgrade of the Armed Forces.
It said of the amount, P25.2 billion accounted for the AFP share while P11.4 billion was for the replication of military facilities such as housing units, hospitals, churches and museums.
This is in line with the agency’s mandate to strengthen the Armed Forces while building great cities.
BCDA said that since its creation in 1992, it contributed to strengthening and enhancing the capabilities of the AFP through the disposition and development of former military bases into productive civilian use, which now serve as the country’s economic hubs like the Bonifacio Global City in Taguig City and Newport City in Pasay City.