PH LAGUNA DE BAY INSTITUTIONAL STRENGTHE

The closing date for Philippines, Laguna de Bay Institutional Strengthening and Community Participation Project, will be extended from January 31, 2011 to April 30, 2011. The government requests for a three-month extension of the project to allow the Office of the President to complete its final review of the proposed $10 million Additional Financing (AF) for the project after it was confirmed by the Board of the National Economic Development Authority (NEDA Board) through an ad referendum in December 2010. The purpose of the AF is to scale up environmental investment by the concerned Local Government Units (LGUs) under the component one of the project. Specifically, the delivery of the AF has slipped to this FY due to the delay in securing the confirmation of the NEDA Board and the additional processing step introduced by the new Government, which is the Presidential confirmation before proceeding with the negotiations. This will be the fourth extension of the project.