Manila, Sept. 3 -- The Economy and Development (ED) Council Investment Coordination Committee - Cabinet Committee (ICC-CC), chaired by Finance Secretary Ralph Recto, has approved the adoption of a resolution aggregating flood control and management projects within a single river basin.

In a statement Wednesday, the DOF said the resolution approved by the ICC-IC on Aug. 12 was recommended by the Infrastructure Development Committee (InfraCom) Sub-Committee on Water Resources (SCWR) to allow the government to conduct a comprehensive review of the flood management projects and to ensure that these are shovel-ready before their implementation.

The current ICC guidelines only require evaluation of projects above the PHP2.5 billion threshold,...