Section 30Sec./Art. 30

Investment Coordination Committee (ICC). - The ICC shall be composed of the Secretaries of the DBM, DEPDev, DOE, DOF, DTI, and the Executive Secretary. The Governor of the BSP or a duly authorized representative shall sit in the meetings of the ICC as a resource person.

The Secretaries of the DOF and the DEPDev shall serve as co-chairpersons of the ICC.

The ICC shall have the following functions:

(a) Ensure the efficient and effective evaluation of the country's major capital programs and projects by determining levels of acceptability and viability relative to overall economic and fiscal conditions of the country;

(b) Recommend for the approval by the President or the ED Council as the case may be:

(1) The timetable of the implementation of major capital programs and projects on a regular basis;

(2) PPPs and other modalities of development financing in support of long-term programs and projects for the national and local government, and GOCCs, in accordance with relevant laws; and

(3) Specific major programs and projects found viable in terms of economic and social benefits;

(c) Submit to the President a status of the fiscal, monetary, and balance of payment implications of major capital and infrastructure programs and projects; and

(d) Advise the President on matter related to the domestic and foreign borrowings program in relation to major capital and infrastructure projects requiring approval by the ICC.