THE CITY government is eyeing to create a trust fund for the Davao Bus Project, an official confirmed on Tuesday.
Assistant City Administrator and Davao Bus Project manager Atty. Tristan Dwight Domingo said this is to cover the local counterpart for the Davao Public Transport Modernization Project.
“The trust fund will be dedicated to cover the city’s P1.5-billion counterpart for the P73.4-billion Davao Public Transport Modernization Project,” Domingo told reporters.
The trust fund also reflected the city’s commitment to the project.
There will be an annual budget that will increase gradually and will be deposited in this trust fund to reach P1.5 billion.
“The trust fund is exclusively for the Davao Bus Project. Hopefully, even more by next year and contribute little by little until we reach the P1.5-billion target by 2030,” he said.
Domingo said this will be sourced from local revenues as the city is now generating over P4 billion annually.
“This is a multi-year undertaking for the city. Our proposed strategy is to allocate specific amounts each year into the trust fund, based on the project’s evolving financial needs,” he stressed.
Domingo stressed that the allocation will ensure that the city is prepared once the project is implemented and will avoid financing problems.
“The fund will be removed from the general fund and put in a special account. So we’ll go to DBM, we’ll open a new account, and we’ll put it there,” he said, noting the creation will require a city ordinance.
The Department of Transportation (DOTr) has allocated approximately P2 billion for the Davao Bus Project in 2026, significantly lower than the P14 to P17 billion.
