President Duterte on Thursday night witnessed the signing between the government and the Asian Development Bank (ADB) of loan agreement that will finance the construction of a railway system that will easily connect Metro Manila and the province of Laguna.
Duterte graced the ceremonial signing held in Malacañang Palace between the government, through the Department of Finance, and ADB of the $4.3 billion-worth of loan agreement for the 54.6-kilometer South Commuter Railway Project.
The project is set to have 18 stations that will traverse 10 cities, including Manila, Makati, Taguig, Parañaque and Muntinlupa in the National Capital Region, as well as San Pedro, Santa Rosa, Cabuyao and Calamba in Laguna.
Once completed, the railway system will reduce travel time between Manila and Calamba City from 2.5 hours to just an hour.
The government envisions the project to provide reliable and safe public transport to all Filipino commuters.
On June 9, ADB approved the loan, which is tagged as the bank’s largest infrastructure financing in the Asia and Pacific region to date.
The project follows ADB’s financing of the Malolos-Clark Railway line north of the capital, for which construction is ongoing.
“The South Commuter Railway Project will provide affordable, safe, reliable, and fast public transport for commuters,” said ADB Vice-President for East Asia, Southeast Asia, and the Pacific Ahmed M. Saeed in a recent statement.
“This project represents ADB’s biggest infrastructure investment and reflects our commitment to helping the Philippines attain its goals of reducing poverty, improving the lives of Filipinos, and achieving green, resilient, and high economic growth,” he added.