By Dominique Gabriel G. Bañaga
Western Visayas needs a total P393.355 billion in investments in the next three years to recover from the impact of Covid-19 pandemic.
The amount is contained in the Western Visayas Regional Recovery Plan 2020-2023 of the National Economic Development Authority (NEDA).
NEDA-6 regional director Ro-Ann Bacal said the plan is the region’s “come-back plan to create jobs and sustain regional economic growth amid the continuing challenges brought about by the pandemic.”
According to the document, the agriculture and fisheries and industry and services sectors require the largest allocation of P253.318 billion or 64.40 percent of the total amount required.
Social services has the second biggest investment requirement at P73.080 billion or 18.58 percent that will cover health, education and training, social protection and housing.
Infrastructure and transport needs P32.363 billion or 8.23 percent, governance – P31.987 billion or 8.13 percent, and P2.607 billion for the environment or 0.66 percent.
The funds will be sourced from the regular and re-aligned budgets of the regional line agencies and local government units, the plan said.
It also projected that the region needs to invest P56.3 billion in 2020; P110.08 billion in 2021; P58.7 billion in 2022; and P28.11 billion in 2023./DGB, WDJ