The Investment Coordination Committee-Cabinet Committee (ICC-CC) has approved four major public investment projects covering rail connectivity, technical-vocational training, geothermal energy development, and earthquake resilience.
The approved projects are the LRT-1 South Extension Common Station, the TESDA Boosting Employability in Strategic TVET Sectors project, the Philippine Geothermal Resource Derisking Facility, and the Philippine Seismic Risk Reduction and Resilience Project.
The projects will be submitted to the Economy and Development Council, chaired by President Ferdinand R. Marcos Jr., for final approval.
Finance Secretary and ICC-CC Chair Frederick D. Go said the projects were evaluated based on their expected benefits to commuters, workers, students, and communities.
“Rail projects give people back their time. A seamless connection between LRT-1, MRT-3, MRT-7, and the Subway means shorter commutes, more hours with family, and workers who can reach more opportunities across the city,” Go said.
“The ICC process exists to make sure every project we endorse delivers real outcomes for Filipinos,” he added.
The LRT-1 South Extension Common Station project will support the construction of the Unified Grand Central Station along North Avenue in Quezon City. The station will connect LRT-1, MRT-3, the future MRT-7, and the Metro Manila Subway into one major interchange.
The transport hub is expected to benefit about 1.28 million passengers daily by improving transfers and reducing travel time across Metro Manila.
The ICC-CC also approved the TESDA Boosting Employability in Strategic TVET Sectors, or BEST, project, which aims to expand access to technical and vocational training aligned with industry needs.
The program will focus on high-demand sectors such as manufacturing, construction, information and communication technology, and agri-fishery to help improve employability and support industrial competitiveness.
In the energy sector, the committee approved the Philippine Geothermal Resource Derisking Facility, which will be backed by a sovereign loan from the Asian Development Bank and implemented through LANDBANK.
The facility aims to reduce financial risks in early-stage geothermal exploration and encourage more private-sector investment in renewable energy.
The ICC-CC also cleared the Philippine Seismic Risk Reduction and Resilience Project, which will finance the seismic retrofitting of school buildings in Metro Manila.
The project also seeks to strengthen the Department of Public Works and Highways’ capacity to respond after major earthquakes and help keep schools safe and operational during and after seismic events.
The ICC-CC said the four projects support government efforts to invest in infrastructure, jobs, clean energy, and disaster preparedness.