By Roderick T. dela Cruz

Six major projects in the Philippines with a total cost of $935.4 million are most likely to be financed under the Millennium Challenge Account foreign assistance program of the United States, but its final approval now depends on the new Obama administration.

Documents from the National Economic and Development Authority showed that a team from Millennium Challenge Corp., which administers the program, ?favorably assessed? the six projects during a meeting with the joint economic managers and Investment Coordination Commission of the National Economic and Development Authority on Nov. 27 last year.

Millennium Challenge grant funds to eligible countries to reduce global poverty through the promotion of sustainable economic growth.

The final list of projects to be financed under the Millennium Challenge Account will be sent to MCC for its peer review and action.

?The MCC peer review process may involve both internal and external consultants. The time duration cannot be ascertained at this time in view of several factors, including the transition to the new Obama administration,? according to the Neda documents.

The six projects include the Secondary National Roads Program, with proposed assistance of $186 million; Kabit-bisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Services, with $100 million; and Pantawid Pamilyang Pilipino Program, with $227 million.

Also being considered are the Sustainable Upland Watershed Management and Productivity Enhancement through Small Water Impounding Project, with $41.7 million; Enhancing Fiscal Governance through Procedural Reforms and Technological Applications, with $299 million; and Comprehensive Coastal and Fisheries Protection Using Strategic Surveillance and Geospatial Mapping, with $81.7 million.