MANILA — Bases Conversion Development Authority (BCDA) has allotted an initial P5 billion for Clark Green City. The funding will be used for utilities and infrastructure within the 35,000-hectare property even though the Department of Public Works and Highways (DPWH) has already started the road works in the same site.
BCDA president and chief executive officer Arnel Paciano Casanova said that the allotted budget will come directly from their funds.
“We will provide the basics to make the site accessible to investors who then would do the rest. I expect the private sector to spend about P59 billion to put up needed infrastructure in the rest of the Clark Green City,” he said.
Casanova stressed that the funding for the project will be similar with what BCDA did at the Global City in Fort Bonifacio, Taguig.
He added, “We do not get funds from the government. We remit funds to the government.”
For the Phase 1 of the Clark Green City, 1,300 hectares will be covered. The project will be launched next year. According to the BCDA, the Clark Green City “will be environmentally sustainable, socially inclusive, economically competitive, culturally relevant, and technologically integrated.”
“It will generate billions in investments and generate thousands of jobs” and “will also provide the catalyst for the economiof surrounding local government units,” the BCDA added.
Aside from the government units, the BCDA also signed a memorandum of understanding with the University of the Philippines to start a global campus in Clark Green City. This will serve as the city’s “Brain Capital.”
Once finished, the Clark Green City will add P1.57 trillion to the Philippine economy. Moreover, it is expected to generate 925,000 new jobs. The project will cost about P200 billion.
“The green metropolis would be a mix of industrial, institutional and commercial areas, which would apply green technologies by adapting a Green Building System. Renewable energy from sustaining sources will be used by all facilities and buildings in Clark Green City that is half the size of Metro Manila,” he added.