Bayan Muna Executive Vice President and former congressman Carlos Zarate on Friday, April 25, hit the National Economic and Development Authority (NEDA) Board's approval of the increased projected cost of the Kaliwa Dam project, saying it "raises serious questions about transparency and accountability".

Zarate said NEDA's move—which raised the project's budget to what he called a "staggering" P15.3 billion—was "utterly unacceptable".

He says it further burdens the Filipino people with unnecessary debt while supposedly prioritizing profits for big businesses over the rights and welfare of indigenous communities and the environment.

"At a time when our nation is grappling with economic challenges, the NEDA Board has greenlighted a project that will not only submerge the ancestral lands of our indigenous brothers and sisters but will also bury the country deeper in debt," he said.

The project's original cost, according to Zarate, was at P12.2 billion—an amount that was part of the Official Development Assistance (ODA) loan secured from China in 2018.

The Export-Import Bank of China (EXIM) was set to finance 85 percent of its cost or around P10.2 billion, while the Philippine government would shoulder the remaining 15 percent, or about P1.8 billion.

Although Kaliwa Dam is peddled to become a solution to Metro Manila's water needs, Bayan Muna has consistently raised concerns about the project's detrimental social and environmental impacts.

"While the need for a sustainable water source is undeniable, this particular project comes at a grave cost," he said.

Zarate says it will displace indigenous communities that have called these lands their home for generations and will destroy their culture and way of life.

"Furthermore, the massive debt incurred for this project will ultimately be shouldered by the Filipino people, while the primary beneficiaries appear to be the large corporations involved in the drinking water and electricity sectors," he added,

The group reiterated its stance that the government should explore more sustainable and socially just alternatives for water security—ones that he said respect the rights of indigenous communities and do not plunge the nation into further indebtedness.

"We demand a thorough and transparent accounting of this cost increase. The Filipino people deserve to know why this project's budget has ballooned to such an extent," he said.

"We stand in solidarity with the indigenous communities who face displacement and vow to continue fighting against this debt-driven and socially destructive project," added Zarate.