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P8.6 B investment fund for Leyte

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By Restituto Cayubit

TACLOBAN CITY – The province of Leyte has more than P8.6 billion for its Annual Investment Plan (AIP) to fund programs and projects for 2019.

Gov. Leopoldo Dominico L. Pe­tilla told Manila Bulletin the approved AIP for the province this year is P8,679,619,668.91, higher than last year’s P7,602,260,934.

Part of the 2019 AIP is the approved executive annual budget of the Provin­cial Government of Leyte amounting to P2,968,467,167.

The AIP funding requirements and percentage distribution of the various projects, programs and activities be­ing implemented per sector include: the P4,927,720,583.70 for economic services which is 56 per cent of the AIP; the P1,985,557,685.21 for social services which is the 22 percent; the P1,740,941,400.00 for general public services comprising 20 percent; and the P25,400,0000 for special education fund which represent only 0.29 percent, Petilla said.

Funding for the AIP is drawn from the provincial general fund of P2 billion annual internal revenue allot­ment (IRA); funding from government agencies, projected foreign assistance, 20 percent of its annual IRA; Reha­bilitation and Improvement Program (CMGP) of the DILG; the Special Edu­cation Fund (SEF) and other sources such as the Conditional Matching Grant to Provinces for Road and Bridge Repair; and other funding facilities of foreign development institutions and other development partners.

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