PHILIPPINE STAR / MICHAEL VARCASA RESOLUTION seeking an investigation into the implementation delays of foreign-funded infrastructure projects was filed at the House of Representatives on Monday.
In a statement, Party-list Rep. Eduardo J. Villanueva, Jr. said he filed House Resolution No. 2215 to raise concerns about the billions worth of commitment fees paid by the Philippine government to multilateral lenders.
“We are wasting billions of pesos on loans that remain unused,” he said.
In December, the Commission on Audit flagged the Public Works department for failing to implement P84 billion worth of foreign-assisted projects, resulting in the restructuring of loan terms which could lead to higher construction costs.
Mr. Villanueva said the House probe would allow lawmakers to review procurement and foreign loan use policies, helping introduce safeguards to prevent loans from incurring additional charges.
“Every peso that can be saved from commitment fees can be redirected to funding pressing needs such as healthcare, education, and social services,” he said. — Kenneth Christiane L. Basilio
