The National Economic and Development Authority (NEDA) has approved two projects worth P70.6 billion to help communities implement climate change mitigation programs and improve irrigation in Isabela province.

In a statement, NEDA said it approved the projects during its 25th meeting on 19 March.

The first project, Panahon ng Pagkilos: Philippine Community Resilience Project, aims to enhance the capacity of residents and local government officials in 500 municipalities to plan and implement climate resilience initiatives.

According to NEDA, the project will benefit 4.13 million households and will be implemented by the Department of Social Welfare and Development (DSWD). It has a total budget of P56.7 billion.

The second project, Tumauini River Multipurpose Project, is designed to provide irrigation for 8,200 hectares of farmland in 32 barangays in Isabela, including areas in Tumauini, Cabagan, and Ilagan.

With a budget of P13.9 billion, the project will be implemented by the National Irrigation Administration (NIA) and is expected to help 5,860 farmers increase their harvests and improve their incomes.

Government officials plan to implement the project from September 2025 to September 2030.

"By prioritizing regional growth, we are not only enhancing infrastructure but also creating sustainable economic opportunities throughout the country," said NEDA Secretary Arsenio Balisacan.

NEDA data shows that only 4.3 percent of the 186 infrastructure flagship projects, worth a combined P9.6 trillion, have been completed.

Balisacan said the government will leverage public-private partnerships (PPPs) and concessional loans from official development assistance (ODA) to finance the projects.

Currently, ODA—funding from foreign governments and multilateral institutions—is the primary source for 82 projects, followed by the national budget for 52 projects and PPPs for 43 projects.

Balisacan added that the government is working with development partners to secure near zero-interest loans, supported by the country’s improved credit outlook from stable to positive by S&P Global Ratings.

Department of Finance (DOF) Secretary Ralph Recto said government revenues, including those from the mining sector, may also contribute to project funding.

The DOF has proposed reducing the current eight-tier mining tax structure under House Bill 8937 to a four-tier system.

"The four-tier makes it simpler for investors and the Bureau of Internal Revenue to compute the corresponding tax rates. Furthermore, the simplified DOF version will lessen incentives for the private sector to pursue aggressive accounting to avoid taxes," DOF stated.

According to data from Australia’s Department of Trade, the Philippines has $1 trillion worth of mineral reserves, including copper, gold, nickel, zinc, and silver.