Pres. Duterte, ADB Sign Loan for PH Infrastructure Project
DUTERTE – Outgoing President Rodrigo Roa Duterte and the Asian Development Bank (ADB) signed a $4.3 billion loan deal for South Commuter Railway Project.
One of the main focuses of the current administration is the “Build, Build, Build” Program. A lot of infrastructures were built under the outgoing admin and the incoming admin may possibly continue the work that the current admin has started.
A few weeks before he will step down as president of the Philippines, Pres. Rodrigo Roa Duterte has signed another loan deal that is set to fund a huge railway project that may cover routes between 10 cities across the nation.
Based on a report on ABS-CBN News, Pres. Duterte and the representatives of the Asian Development Bank (ADB) recently signed a $4.3 billion loan deal for the South Commuter Railway Project. A signing ceremony was held in Malacañang Palace.
According to the report, the loan amount is around P227.7 billion in the Philippine currency. The project is a 54.6-kilometer railway that will be part of the North-South Commuter Railway (NSCR) System. It aims to connect Laguna and Metro Manila as well and will have 18 stations traversing 10 cities including Parañaque, Taguig, and Muntinlupa.
Reportedly, the stops include San Pedro, Santa Rosa, Cabuyao, and Calamba in Laguna. According to the officials, once the railway project is done, it will reduce the Manila-Calamba City travel time from 2.5 hours to one (1) hour.
ADB President Asakawa called the railway project “transformative”. It is the biggest infrastructure project financing in the history of the international bank.
On June 30, 2022, Pres. Duterte’s six-year term will end. Amid the incoming admin’s openness to have him as part of the Cabinet, there are still no official offers and the outgoing President has yet to speak on his plans. Meanwhile, he has always been vocal about going home to his hometown, Davao City.
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