BCDA remitted P5.22B to National Treasury, highest since 2012

BCDA remitted P5.22B to National Treasury, highest since 2012

Another good news.

The Bases Conversion and Development Authority (BCDA) is a government-owned and controlled corporation directly under the Office of the President, a government corporation with a mandate of  transform former US military bases into alternative productive civilian use (wikipedia).

BCDA is one of the integral part of the Duterte administration’s Build Build Build infrastructure program , the program which is the most ambitious infrastructure plan in the history of the country.   *
file photo (credit to owner)

Early this week, Malacañang announces that the Bases Conversion and Development Authority (BCDA) has remitted PHP 5.22 billion to the Bureau of Treasury in 2017.

The remittance of PHP5.2 billion by the agency is the highest amount generated since 2012.

“The Bureau of Treasury noted that the BCDA remittance for 2017 is also higher than PHP3.93 billion in 2016,” Presidential Spokesperson Harry Roque  said.

Roque said the BCDA, as part of its mandate, would allocate PHP4.839 billion to the Armed Forces of the Philippines (AFP) modernization program and other beneficiary agencies.

“In addition, the BCDA has also raised a total of PHP36.6 billion for the purchase of the military equipment and maintenance of military facilities,” Roque said.

The BCDA group is considered a prime mover of national development principally for the transportation of former military bases and properties into premier centers of economic growth.

Bonifacio Global City, New Clark City, Subic-Clark-Tarlac Expressway and Newport City or the Villamor Air Base, are some of the notable major projects of BCDA.

Just recently, the China Development Bank (CBD) and the Bases Conversion and Development Authority (BCDA) signed a Memorandum of Understanding (MOU) that will establish the framework for financing cooperation to speed up implementation of major infrastructure projects worth USD4.5 billion under the “Build, Build, Build” program under the Duterte administration.        *

New Clark City, the Subic-Clark Railway Project and the BGC-NAIA-Makati Bus Rapid Transit are among the few high impact infrastructure projects which stands to benefit from the financing cooperation with CBD.

 Report from PNA

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