Preservation of biodiversity, not just financial gains, form part of draft rehab plan for soon-to-reopen Boracay. CONTRIBUTED PHOTO With Boracay soon to reopen, the National Economic and Development Authority (NEDA) crafts an investment program by which to fund the country’s top tourist destination’s rehabilitation.

Under the draft Executive Order (EO) 53, a comprehensive medium-term master plan will help shape the island’s rehabilitation to protect and preserve biodiversity in the island and ensure its sustainability as well.

The closely-watched EO will also provide for a three-month allowance for the action plan.

“We delivered the first draft but the details and cost are not yet for disclosure,” said NEDA Undersecretary Adoracion Navarro.

Navarro told the reporters the draft is awaiting approval. She also said that similar to what happened in Marawi, the government is “doing the vetting again.”

The NEDA said explained that as the draft awaits approval, “a lot of private sector projects (and) private firms (in Boracay)” that have committed projects.

“In the case of public sector investments, we’re helping the agencies identify [and] determine what projects are necessary,” Navarro added.

Meanwhile, NEDA will meet with the Department of Finance and the Department of Budget and Management to discuss and unify the financial assumptions used in calculating the fiscal impact of the proposed shift to a federal system of government.

The meeting is set on 29 August 2018 and will be attended by the country’s top economic managers.