The revised Investment Coordination Committee (ICC) guidelines are meant to enhance the efficiency and turnaround time of projects, according to Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan.
In a statement released Monday, DEPDev announced that the Economy and Development Council (ED Council) has approved the updated guidelines for reviewing and approving new and ongoing major government projects.
Key changes include the increased cost threshold for locally funded programs and projects at P5 billion and the expanded ICC coverage to include Public-Private Partnership projects.
The updated guidelines also institutionalize the ICC’s mandatory review of foreign loan-assisted projects, regardless of total cost. They also encourage the submission of well-prepared and strategically aligned proposals.
“The improvement in our processes at the Economy and Development Council, particularly at the ICC level, are meant to enhance efficiency and the turnaround of projects,” Balisacan said in a news briefing.
“For example, we have raised the threshold from P2.5 billion to P5 billion already, while at the same time putting safeguards into the various stages of the approval process so that we can spot possible issues or problems that may arise,” he added.
The ED Council has also approved increased costing amounting to $400 million and implementation extensions for four U.S. government-assisted development objective agreements.
Broken down, the council has approved a $524-million costing adjustment from $224 million to help sustain improvement in health outcomes among underserved populations and strengthen the country’s overall health profile.
Costs for the enhanced ecosystem and community resilience objective were also increased from $150 million to $250 million, aimed at enhancing the ability of natural systems to provide ecosystem services and address climate change.
Meanwhile, the implementation period for economic growth and democratic governance with equity and improved basic education outcomes were both increased to Sept. 30, 2027.The agency said these adjustments are intended for ensuring the continuity of project implementation during management transition from the United States Agency for International Development (USAID) to the U.S. Department of State.
“These timely adjustments are crucial to sustaining the gains we have achieved through these agreements. They will ensure that programs continue to deliver meaningful results for the Filipino people, particularly in health, education, economic growth, governance, and climate resilience,” Balisacan said.
