$380-million ADB loan to finance 11 infra projects in Mindanao
MANILA, Philippines – The Philippine government has obtained new loans totalling $380 million from the Asian Development Bank (ADB) to finance roads and bridges in Mindanao.
The Department of Public Works and Highways (DPWH) said in a press release on Friday, January 12, Finance Secretary Carlos Dominguez III and ADB president Takehiko Nakao signed the loan agreement Wednesday.
The loan will augment the P25.26 billion needed for the 11 big-ticket projects.
The undertakings under the Improving Growth Corridors in Mindanao Road Sector Project are:
- Construction of 8 roads in Zamboanga Peninsula, with total length of 277.23 kilometers
- Alicia-Malangas Road - 23.69 km
- Tampilisan-Sandayong Road - 17.1 km
- Lutiman-Guicam-Olutanga Road - 37.49 km (with 440-lineal meter Guicam Bridge)
- RT Lim-Siocon Road - 55.25 km
- Lanao-Pagadian-Ipil-Zamboanga Road and Curuan-Sibuco Road - 40 km
- Siay-Gapol Road - 34.5 km
- Gutalac-Baliguian Alternative Road - 27.76 km
- Construction of 3 bridges in Rawi-Tawi, with total length of 775 lineal meters
- Malassa-Lupa Pula
DPWH Secretary Mark Villar said the projects which will be implemented from 2018 up 2023. – Rappler.com