The World Bank approves the loan for the building of the 1st Metro Manila BRT.
WORLD BANK APPROVES – The World Bank approved the loan amounting $64.6 million for the construction of the 1st Metro Manila bus rapid transit (BRT) system.
Recently, a news report in Inquirer entailing the approval of the World Bank on the loan broke in. Based on the report, the $64.6 million granted loan will fund the construction of the first BRT that will run in the midst of Quezon City and Manila.
The Department of Transportation in collaboration with the city governments of Quezon City and Manila City will be the one to implement the said project which is expected to be functional by 2022.
According to the news report, based on a statement, it was on March 16 when the Board of Executive Directors of the World Bank gave the loan a go signal.
Moreover, it is also stated that around 300,000 daily commuters along España Boulevard and Quezon Avenue are going to benefit to the project that “will provide safe, reliable and comfortable rides.”
According to the report, the World Bank also stressed that the said project “will also develop support infrastructure along the España Boulevard-Quezon Avenue route.”
The said support infrastructures include warning signals, direction signals, terminals for the buses, facilities in crossing, stations for the buses, and other facilities according to the World Bank.
Based on the report, the country director of World Bank, Mara Warwick, also expressed that the project will maximize the access of the public towards education and employment opportunities most especially for the poor people who are living along the route of the BRT.
The World Bank’s country director also noted the benefit of the construction of the BRT on the environment as she said that “transport systems like BRT help reduce greenhouse gases.”
According to Warwick, it can give the Philippines’ contribution to the fight against the climate change a boost.
Based on the news report, half of the total cost of the project which is $109.4 million will be funded by the loan from the World Bank and the Clean Technology Fund. The remaining balance would be provided from the national budget.
According to Zhihong Zhang, the Clean Technology Fund’s Senior Program Coordinator, BRT are “cost-effective options” in minimizing harmful gases’ emission.