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Manila Bulletin devider Philippines devider National devider DOTr taps ADB for additional infra projects' funding

DOTr taps ADB for additional infra projects' funding

Published Oct 6, 2023 06:33 am
bautista.jpg
Department of Transportation Secretary Jaime Bautista (Courtesy of DOTr)

The Department of Transportation (DOTr) sought the help of multilateral lender Asian Development Bank (ADB) in funding the government's additional infrastructure programs.

DOTr Sec. Jaime Bautista said the transport agency will continue to tap the ADB to open “opportunities for equitable progress and growth for business, investment, tourism and employment.”

“To achieve this program, we [must] undertake initiatives that address connectivity and efficient mobility,” Bautista stated during the 3rd DOTr-ADB Coordination Meeting on Friday, Oct. 6.

According to DOTr, they have forged nine agreements with the ADB amounting to P1.2 trillions which will cover the funding of various transport infrastructure projects from aviation, railways and road sectors.

These include the North-South Commuter Railway (NSCR), Metro Rail Transit (MRT)-4, Davao Public Transport Modernization Project, EDSA Greenways Project, as well as the multi-sectoral Infrastructure Preparation and Innovation Facility - Output 3.  

The South Commuter Railway Project, which is part of the North-South Commuter Railway (NSCR) network, is ADB’s largest infrastructure financing in the Asia and Pacific region, the DOTr noted.

Meanwhile, the DOTr said that the ADB has a total of 17 upcoming and ongoing contract packages with at least P187 billion in cost estimate.

Apart from funding, the DOTr said it also seeks ADB’s technical assistance in terms of developing an all sectors lifecycle monitoring and evaluation framework, local tax experts (LTEs), and development of right-of-way acquisition (ROWSA) manual for the projects that the latter are financing.

Bautista stressed that the ADB-funded projects will help position the Philippines as a "dynamic investment hub and an emerging gateway country to Asia."

“We are optimistic that the ADB would appreciate the investment prospects in the Philippines towards boosting the country’s economic growth and addressing the social needs of Filipinos,” he stated.

For his part, ADB Director General for Southeast Asia Winfried Wicklein expressed the multilateral agency’s support to the Philippines to improve its transport system.

"We are looking forward to continuing thinking through and programming future support,” Wicklein said.

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