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Manila Bulletin devider Philippines devider National devider China approves $350-M loan for Samal Island-Davao City Bridge

China approves $350-M loan for Samal Island-Davao City Bridge

Published Jun 14, 2022 03:43 pm

China has approved the Philippines' $350-million loan for the construction of the P19.32-billion Samal Island-Davao City Connector (SIDC).

Chinese Ambassador Huang Xilian and Finance Secretary Dominguez exchanged the Framework Agreement and Loan Agreement for Samal Island-Davao City Connector Project. (Photo courtesy of the Chinese Embassy in the Philippines)

Chinese Ambassador to the Philippines Huang Xilian and Finance Secretary Carlos Dominguez III exchanged the signed framework and loan agreement for the 3.86-kilometer inter-island bridge that links Samal Island and Davao City.

"The first cross-sea bridge that the Davaoeno people have long dreamed of will come true!" Huang said as he announced the approval of the loan on Monday, June 13.

He said that the Chinese government will provide a concessional loan of approximately 350 million US dollars to the Philippine government to finance the project.

The bridge will connect Davao City and Samal Island across the Pakiputan Strait.

Design Sketch of Samal Island-Davao City Connector Project (Photo courtesy of the Chinese Embassy in the Philippines)

"Once completed, this bridge will provide a resilient and reliable transportation link between Davao City and Samal Island, improving transportation efficiency, promoting internal mobility, and stimulating tourism potential," Huang said.

"Also, during the construction, thousands of jobs would be created, contributing to local economic recovery and improving people’s livelihood," he added.

The Chinese envoy also said that the project will "break ground before long."

The bridge project is among the big-ticket projects mulled under the Build, Build, Build infrastructure program.

The signing of contract for its detailed engineering design took place in January 2021. The application for the loan agreement then followed.

Related Tags

loan SAMAL ISLAND DAVAO CITY CONNECTOR SAMAL DAVAO BRIDGE Chinese Ambassador Huang Xilian 61422 china
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