ADB approves $200M for climate-resilient infra project

The Asian Development Bank has approved a $200-million loan for the Philippines to ensure the construction of climate-resilient infrastructure under the country's massive development plan.

The loan is part of the ADB's Infrastructure Preparation and Innovation Facility which provides governments with technical aid for infrastructure research and design that uses environment-friendly materials and are disaster-proof.

Such financing advances the government's massive infrastructure plan consisting of 197 projects worth around P9 trillion, said the ADB.

Support Phl's climate commitments

Said the multinational lender in a statement released Friday, "The loan will help accelerate early project implementation through feasibility studies and detailed engineering design that embeds climate-resilient features to support the Philippines in achieving its climate commitments and national adaptation priorities."

Specifically, the ADB and the Department of Public Works and Highways will gather data on building climate-resilient roads, bridges, transport and flood control structures.

Aside from these, the multinational lender will help the government craft policies and regulations on infrastructure investments that are anchored on climate change mitigation.

"With this additional financing, we aim to help the government scale up the scope of its investments, further improve the readiness and quality of public infrastructure projects, and strengthen public investment management systems," ADB senior transport specialist Daisuke Mizusawa said.

The ADB reported funding for the Philippines under the Infrastructure Preparation and Innovation Facility has grown to over $40 billion.

Out of this, 80 percent represents infrastructure investments, including the Malolos Clark Railway Project and the South Commuter Railway Project.

"These projects, along with other major bridge and public transport projects, are collectively expected to reduce greenhouse gas emissions by 497,866 tons per year," the ADB said.