The Provincial Development Council (PDC), chaired by Gov. Gwen Garcia, approved the proposed Annual Investment Plan (AIP) of the Province of Cebu for 2024 in the amount of P12 billion.
The approval was reached during the PDC joint meeting on Friday, Oct. 6, that gathered at the Capitol Social Hall the mayors of all cities and towns of Cebu.
The AIP will finance the various development projects of the province.
Provincial budget officer Danilo Rodas bared that of the amount, P3.5 billion will go to road and bridge infrastructure as well as solar street lighting projects.
The same amount will also be allotted for the province’s health sector upgrade, which will include improvement of health facilities and acquisition of medical equipment for the 16 Capitol-run hospitals.
About P3.3 billion has been set aside for Capitol’s water system development program in the towns and cities, while P500 million is earmarked for construction of public buildings and other structures.
Some P400 million is allocated for the province’s agricultural initiatives, P350 million for airport and seaport development, and P100 million for vehicle acquisition such as ambulances.
Another P150 million is set aside for development and restoration of cultural assets like parks and museums. Drainage and flood control projects will also be funded with a P200 million budget.
The AIP budget for 2024 is expected to continually support Gov. Gwen Garcia’s efforts to further bring economic prosperity down to the grassroots level. | Carlo Lorenciana