The P50-billion bond float of the National Development Co. (NDC) will be strictly used for infrastructure projects identified under the government’s Medium Term Infrastructure Program.

NDC general manager Lourdes Rebueno said they are currently preparing the implementing guidelines for the bond float.

“The proceeds of the bond float are strictly for the financing of infrastructure projects identified by the government under the MTPIP,” Rebueno said.

Rebueno said that NDC may issue the bonds in tranches depending on the project that have been approved by an evaluation committee.

Rebueno said the P50-billion bond float would serve as the government’s counterpart to the private sector’s call for the establishment of a P100 billion special private-public sector fund for infrastructure of which P50 billion would be funded by the private sector project proponents.

The objective was to help spur the economy in light of the global economic slowdown through massive infrastructure development projects.

The infrastructure projects are long term projects and are expected to go beyond the current administration.

Already, the PCCI has already identified 9 infrastructure projects that are slated for implementation in the first quarter this year.

“We are now vetting on 9 infrastructure projects,” said Edgardo B. Lacson, president of the Philippine Chamber of Commerce and Industry noting that the projects are composed of light rails, toll roads, and ports.

The identified projects include high-speed rail (Clark-Central business districts LRT 1); South Extension (to Bacoor); MRT 9 (EDSA-West Avenue-Morayta); Common Terminal for MRT 3-LRT 1 North Extension-MRT 7; Common Bus Terminals; Light Rail Transport Cebu, City; C6 Lakeshore• Expressway Daang Hari – SLEX Link; Cavite-Laguna (CALA); North Luzon East Expressway; Metro Manila Sky Way; SCTEx-Aurora; international airport in Aurora province and; a second passenger terminal in Diosdado Macapagal International Airport.

Lacson said that the area near the Trinoma shopping center at the end of the MRT3 in Quezon City has been identified as the common terminal for MRT 3, LRT 1 and the proposed MRT 7. Lacson also noted that the development of a major international port in Aurora province is important in making the Philippines a transshipment hub given its strategic location relative to the Pacific.