ADB shells out $1.5M for EAGA project planning
By Mai Gevera
Davao City (27 October) -- Key players of the BIMP-EAGA will spend the next 18 months planning and identifying new projects to be funded by the Asian Development Bank (ADB).
ADB Director for Agriculture and Environment Urooj Malik bared that the ADB is now supporting the two recent priorities of the BIMP EAGA as raised during the Senior Officials Meeting held October 24-26 at the Marco Polo Hotel, Davao City.
Senior officials of the BIMP EAGA identified two major areas to be given priority in the coming years. These are the Heart of Borneo and the Sulu-Suluwesi areas.
BIMP EAGA is set to have a forum that would tackle the issues on forest and environment. This, he said, is just one of the many strategic planning activities lined-up to identify core projects in the next few years.
The ADB highly recognizes the need for environmental management as a pre-requisite for any developmental effort.
"In planning for potential projects, the ADB stressed the need for environmental impact assessment as an important element," he said.
Malik estimates a financial requirement of about $50 to $100 M as ground financing programs for the two priority areas in the next 10 years.
ADB is seriously looking at the environmental impact of every project as it is now promoting the new tagline " environment for development".
"Environment is now a precondition for sustainable development," he said. (PIA XI) [top]