For the purpose of this circular, the following terms shall be construed to mean as follows:
3.1 Implementing Agency (IA) - refers to any department, bureau, office, commission, authority or agency of the national government including GOCCs, GFIs and SUCs, authorized by law or their respective charters to contract for and undertake infrastructure or development projects.
3.2 Medium-Term Expenditure Program (MTEP) - a planning-budgeting approach that provides medium-term perspective to decision making process during budget preparation characterized by a predictable timetable and process for a disciplined medium term fiscal policy that will guide resource allocation given budget constraint.
3.3 Project Development and Monitoring Facility (PDMF) - refers to the revolving fund constituted pursuant to Section 2a and Section 6 of Executive Order No. 8 s. 2010, with financing from the Government of the Philippines and the Government of Australia through the Asian Development Bank (ADB) available for PPP-related activities cited herein.
3.4 Pre-Feasibility/Feasibility Study - refers to a study undertaken to determine and document, among others, a project's technical, financial and economic viability.
3.5 PPP - a range of possible contractual arrangements between the public and private entities to provide and/or deliver infrastructure and/or development projects or services, with the roles and responsibilities of the parties/partners defined and the allocation of revenues/costs/risks sharing among public and private partners are clearly provided.
3.6 PPPSSF - a lump-sum appropriation lodged in the budget of IAs to fund the government share for PPP project components
3.7 Project Evaluation Report (PER) - report prepared by the National Economic and Development Authority that contains technical, economic, financial, social and environmental appraisal of PPP project.
3.8 Project Proponent - private entity which has contractual responsibility for the implementation of a PPP project, with adequate financial base consisting of equity and firm commitments from reputable financial institutions to provide, upon award, sufficient credit lines to cover the total estimated cost of the project.
3.9 Unsolicited Project Proposals - submissions by the private entities not in response to a formal solicitation or request made by IA to undertake infrastructure/development projects/services.