Private firms to bankroll P18 billion Pasig rehab

MANILA, Philippines — The country’s top businessmen are backing the government’s rehabilitation of the Pasig River, a vital waterway and prominent landmark and tourist attraction.

Joining President Marcos and First Lady Liza Marcos at the ceremonial opening of the “Pasig Bigyang Buhay Muli” Project in Manila on Wednesday were JG Summit president and chief executive officer Lance Gokongwei, SM Investments Corp. vice chairperson Teresita Sy-Coson, Alliance Global Group Inc. CEO Kevin Tan, former senator Manny Villar of Vista Land and Ayala Corp. chairman and CEO Jaime Augusto Zobel de Ayala.

Marcos inaugurated the first phase of the P18-billion Pasig River Urban Development, a mixed-use facility that would be funded by the private sector.

“No government money was used here... First Lady takes donations. That’s why the development was fast, because this comes from donation, there’s no bidding,” Human Settlements and Urban Development Secretary Jose Rizalino Acuzar said during a recent interview.

Acuzar leads the Inter-Agency Council for the Pasig River Urban Development, which was created by Marcos in July last year to accelerate the rehabilitation and enhancement of banks along the Pasig River.

In his remarks on Wednesday, Marcos stressed the Pasig River should be considered more than just a waterway but as a communal hub.

“We envision civic spaces where our children will play, our seniors relax, families will exercise, artists can showcase their talents and the creative can display their wares,” he said.

“We want it to be a permanent exhibit area of green technology that works – from solar lights to rain harvesting facilities –  sustainable practices like urban gardens,” the President said.

The Pasig Bigyang Buhay Muli project is spearheaded by the First Lady, together with the Departments of Human Settlements and Urban Development, the Interior and Local Government, Environment and Natural Resources and the Metro Manila Development Authority.

It envisions to revive the Pasig River as “a living river” of multiple benefits for communities, with safe walkways and bikeways along its banks, as well as a greener corridor.

It aims to maximize the river’s economic