Daily TribuneThe DOTr and ADB have signed nine agreements to finance various transportation infrastructure projects in aviation, railways, and roads.; total cost of these agreements come to P1.2 trillion.
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The Department of Transportation or DoTr is expecting to secure more funds from multilateral lender Asian Development Bank or ADB in the coming months that would finance the country's transport infrastructure projects.
Transportation Secretary Jaime Bautista said Friday that it continues to explore "opportunities for equitable progress and growth for business, investment, tourism and employment" with ADB, which has been a long-time partner of the Philippines in developing the economy.
"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," Bautista said.
"To achieve this program, we (must) undertake initiatives that address connectivity and efficient mobility," he added.
Technical assistance
Likewise, the DoTr is requesting technical assistance from the ADB for multiple areas, including developing a monitoring and evaluation framework, acquiring right-of-way for ADB-financed projects, and consulting with local tax experts.
ADB director general for Southeast Asia Winfried Wicklein, for his part, expressed the multilateral agency's support to the Philippines to improve the country's transport system.
"We are looking forward to continuing thinking through and programming future support," Wicklein said.
According to the most recent government data, the DoTr and ADB have signed nine agreements to finance various transportation infrastructure projects in aviation, railways, and roads. The total cost of these agreements is P1.2 trillion.
Some of the ADB-funded projects include the North-South Commuter Railway, MRT-4, Davao Public Transport Modernization Project, EDSA Greenways Project, and the Infrastructure Preparation and Innovation Facility —Output 3, which covers multiple sectors.
The South Commuter Railway Project, which is part of the North-South Commuter Railway network, is ADB's largest infrastructure financing in the Asia and Pacific region.
Meanwhile, the ADB has a total of 17 upcoming and ongoing contract packages with at least P187 billion in cost estimate.
