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Philippine transport sector to get $15 billion financing from ADB

Louise Maureen Simeon - The Philippine Star
Philippine transport sector to get $15 billion financing from ADB
During the Arangkada Philippines forum yesterday, ADB country director Kelly Bird said the Manila-based multilateral lender’s five-year financing for transport projects would amount to $15 billion from 2019 to 2023.
Philstar.com / File

MANILA, Philippines — Financing to improve the country’s mass transport and road systems from the Asian Development Bank (ADB) is expected to reach $15 billion by 2023.

During the Arangkada Philippines forum yesterday, ADB country director Kelly Bird said the Manila-based multilateral lender’s five-year financing for transport projects would amount to $15 billion from 2019 to 2023.

“This is an integrated approach to address traffic issues and also promote development outside of the Metro Manila area,” Bird said.

These include investments in mass public transport systems such as railways and modern bus systems and linking various transport modes. ADB also aims to help create safe pedestrian walkways around common transport stations.

Bird said ADB’s lending targets would support economic recovery and aid in climate mitigation and adaptation.

“Every $1 billion investment in railway leads to more than $1.5 billion in additional gross domestic product through stimulating economic activities and regional development. Employment multiplier is also five times the direct employment,” he said.

The biggest loan component would be for the $4.25-billion South Commuter Railway Project or the Clark–Calamba Railway. The 148-kilometer urban rail transit line will run from New Clark City in Tarlac to Calamba in Laguna with 36 stations.

Bird said the project is scheduled for approval this year. Contract bids have also been advertised and are targeted to be awarded by the end of the year.

This would complement the $2.75-billion Malolos–Clark Railway Project which ADB approved in 2019. Civil work contracts are expected to start this year.

ADB

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