The Department of Transportation (DOTr) on Friday bared eyeing additional funding support from the Asian Development Bank (ADB) to finance more transport infrastructure projects in the country.
Transportation Secretary Jaime Bautista said the agency will continue to tap the ADB to open “opportunities for equitable progress and growth for business, investment, tourism and employment.”
“To achieve this program, we [must] undertake initiatives that address connectivity and efficient mobility,” Bautista said during the 3rd DOTr-ADB Coordination Meeting.
Data show the ADB agreeing to fund nine DOTr transport infrastructure projects in aviation, railways and roads worth an aggregate P1.2 trillion.
The ADB-funded projects include North-South Commuter Railway (NSCR), MRT-4, Davao Public Transport Modernization Project, EDSA Greenways Project, as well as the multi-sectoral Infrastructure Preparation and Innovation Facility – Output 3.
The South Commuter Railway Project, which is part of the North-South Commuter Railway (NSCR) network, is ADB’s largest infrastructure financing in the Asia and Pacific region.
The ADB supports a total 17 upcoming and ongoing contract packages worth at least P187 billion in cost estimates.
Apart from funds, the DOTr is also seeking technical assistance in developing an all-sector lifecycle monitoring and evaluation framework, local tax experts (LTEs), and development of right-of-way acquisition (ROWSA) manual for ADB-financed projects.
Bautista said the ADB-funded projects will help position the Philippines as a dynamic investment hub and an emerging gateway country to Asia.
“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.
ADB Director General for Southeast Asia, Winfried Wicklein, expressed the multilateral agency’s support to the Philippines and its bid to improve the country’s transport system.
“We are looking forward to continuing thinking through and programming future support,” Wicklein said.
