THE creation of a Water department will concentrate responsibilities currently held by many agencies in one body, improving access to water and sanitation services, the National Economic and Development Authority (NEDA) said.
“For NEDA’s perspective, we need one responsible institution… it’s really the optimal solution,” NEDA Assistant Secretary Roderick M. Planta said at the SME Finance Forum on Tuesday.
The measure seeking to create a Department of Water Resources is among the list of priority bills identified by the Marcos administration, with approval by Congress expected before June 2025, according to the Legislative-Executive Development Advisory Council.
“We’d love the support from the private sector to make that happen,” Mr. Planta added.
Under the NEDA’s Philippine Water Supply and Sanitation Master Plan published in 2021, the Philippines will need an estimated P1.07 trillion until 2030 to achieve universal access to water supply and sanitation.
The plan also supports the creation of the Department of Water Resources, which would “unify our fragmented water sector.”
“Technically, how do you sort of encourage private sector participation when the regulatory environment is confusing?,” Mr. Planta said.
Griselda G. Santos, Water.org regional director for Southeast Asia, noted the progress that has been made, but added that things need to be done with a bill pending to attain sustainable development goals by 2030.
“The fact that there’s a law lodged in Congress right now (is) progress itself, but it’s a question of when. In the meantime, do we wait for that law to be in place? Because it’s a whole process, right?,” she told reporters.
Ms. Santos said it would take billions of dollars per year to reach sustainable development goals by 2030.
“We cannot wait for the law to pass. We need some action between the public and private sector,” she said.
Alberto E. Pascual, president and chief executive officer of Philippine Guarantee Corp., said that lending to high-risk projects such those in the water sector might be addressed by an agency in which the proper authority is lodged.
“If there’s an agency like maybe the Department of Water (that) will orchestrate everything and will dictate the direction of where financing will be needed, the private banks and other lenders will take the cue,” Mr. Pascual said.
“We, as the guarantee institution of the government, provide sovereign guarantees; we can mitigate the risk in lending to these water projects, because water projects are very complex, and there are a lot of risks,” he added. — Sheldeen Joy Talavera
