FORMER Defense chief Delfin N. Lorenzana has been tapped by President Ferdinand R. Marcos, Jr. to lead the Bases Conversion and Development Authority (BCDA), according to the Department of National Defense (DND).
Mr. Lorenzana took his oath as the BCDA chairperson on Thursday, the DND said in a statement.
The BCDA is a government-owned and controlled development corporation created by law to develop former US military reservations and properties, including what used to be the Subic naval and Clark air bases.
“The BCDA has contributed to the funding of the Armed Forces of the Philippines Modernization Program over the years,” the DND said, noting that the military has been the BCDA’s major beneficiary. — Kyle Aristophere T. Atienza