catastrophic flood-induced corruption losses in Philippines could potentially surpass billions of pesos
The Marcos administration has stepped up its fight against corruption in government-funded flood mitigation projects, as revelations of substandard or non-existent projects have come to light. The questionable flood-control projects aren't confined to the Bulacan province but appear widespread across the country.
Following a request from Public Works Secretary Vince Dizon, a Philippine court has ordered a freeze on 135 bank accounts linked to the anomalies. The Anti-Money Laundering Council has been requested to help restrict 26 public works officials and private contractors from withdrawing or transferring money out of their accounts.
The investigation, conducted by a commission created by President Ferdinand Marcos Jr., aims not only to jail corrupt officials and erring contractors but also to recover any stolen funds. The commission's mandate covers the last 10 years, and the identities of the 26 public labor officers and private entrepreneurs affected by the court order and whose bank accounts were frozen are not publicly disclosed.
The series of typhoons in 2024 and heavy rains in Manila in 202x resulted in repeated evacuations, damage to infrastructure, and parts of Manila being submerged. The misuse of public funds for flood control projects could reveal trillions of pesos in losses, a staggering amount equivalent to about $17.5 billion.
Business groups have endorsed sweeping moves to prosecute corrupt officials and blacklist businesspeople who conspire with them. The uproar has led to the resignation of Marcos's cousin as the speaker of the House of Representatives, and a change in Senate leadership. However, lawmakers who were implicated deny wrongdoing.
Public outrage has resulted in protests in the capital, with plans for a major rally on Sunday. The Marcos administration's commitment to combating graft in government-funded projects is a step towards restoring public trust and ensuring the effective implementation of much-needed flood mitigation measures.
