President Ferdinand R. Marcos Jr. has ordered the release of P145.56 billion to fund the Central Mindanao High Standard Highway Project, aiming to accelerate infrastructure development and spur economic growth in the region.
The directive, coursed through the Department of Budget and Management, will allow the issuance of a Forward Obligation Authority (FOA), securing multi-year funding for the project from 2026 to 2034.
At a Palace briefing on Monday, Presidential Communications Office Undersecretary Claire Castro highlighted the expected gains from the project, citing faster travel, stronger economic activity, and increased opportunities for residents—particularly in Mindanao.
Budget Secretary Rolando Toledo said the move reflects the administration’s push to prevent delays in major infrastructure projects by ensuring steady financing.
The highway project will be funded through loans from the Japan International Cooperation Agency and the Asian Development Bank, alongside counterpart funding from the national government.
Once completed, the arterial road is expected to significantly improve connectivity between Cagayan de Oro and Malaybalay, reducing travel time from nearly seven hours to about 3.5 hours.
Officials said the shorter travel time will help streamline the movement of goods and services, benefiting businesses and communities across Central Mindanao. Improved transport infrastructure is also expected to strengthen regional integration and unlock new economic opportunities.
The project forms part of the government’s broader infrastructure push to drive inclusive growth and enhance mobility nationwide.
