Multilateral lender Asian Development Bank (ADB) has released the second and final tranche of its $2.75-billion financing for the Malolos–Clark Railway Project (MCRP) — approving $1.45 billion to support the development of the northern segment of the North-South Commuter Railway (NSCR) system.

ADB Philippines country director Pavit Ramachandran said on Wednesday that the MCRP financing, one of its biggest project financing in the entire Asia and Pacific region, is seen as a major growth driver for the country.

“We are proud to partner with the government in making the vision of a world-class mass transportation system in the country a reality. This major transformative project will spur more investments, create jobs, and contribute to sustaining the country’s growth momentum,” Ramachandran said.

ADB approved the first tranche of the MCRP financing facility, worth $1.3 billion, in 2019. That tranche is now fully utilized.

The MCRP, a 53.1-kilometer stretch of the 163-km NSCR line, is a flagship project of the government aimed at delivering a safer, more affordable, and environmentally sustainable mass transit system linking northern and southern Luzon to Metro Manila.

Designed with disaster-resilient engineering and advanced construction methods, the MCRP will feature three types of commuter service: regular commuter trains, express trains with limited stops, and the country’s first airport express line to Clark International Airport.

The project aims to reduce greenhouse gas emissions by encouraging a shift from private vehicle use to public transport.

The Japan International Cooperation Agency, a co-financier of the project, is providing the rolling stock and key railway systems such as tracks and electrical and mechanical infrastructure.

ADB is also financing the South Commuter Railway Project, which makes up the southern leg of the NSCR.