The National Economic Development Authority Board, which is chaired by President Ferdinand Marcos, Jr., has approved the P30.56 billion project to rebuild and reconstruct calamity-hit school facilities outside Metro Manila.
The Department of Education’s Infrastructure for Safer and Resilient Schools (ISRS) project will be largely funded by an Official Development Assistance loan from the World Bank-International Bank for Reconstruction and Development, according to a Presidential Communications Office news release.
“Of the P30.56B total project cost, P27.50B will come from loan proceeds while the P3.06B will be counterpart fund from the national government,” the PCO said.
ODA loans support developing countries by providing low-interest, long-term and concessional funds to finance development projects.
The ISRS project will be implemented by the DepEd and the Department of Public Works and Highways from 2025 to 2029.
It involves the repair, rehabilitation, retrofitting, and reconstruction of school facilities outside the National Capital Region, which were damaged by various disasters between 2019 and 2023, the PCO said.
The project is expected to benefit 1,282 schools; 4,756 school buildings; 13,101 classrooms; and 741,038 learners.– PNA
