ADB approves USD380-M loan for Mindanao road project
MANILA (Philippines News Agency) — The Asian Development Bank (ADB) has approved a USD380-million loan to help the Philippine government finance a project meant to improve the road network and spur economic development in Mindanao.
The Improving Growth Corridors in Mindanao Road Sector Project, ADB’s biggest infrastructure investment in the island region, seeks to improve about 280 kilometers (km) of national roads and bridges in Mindanao.
The project, also ADB’s first Mindanao-specific loan granted in 16 years, will help the transport system better deal with the effects of climate change through features such as elevated pavements, enhanced slope protection and better drainage.
The road project is expected to benefit women by improving their access to basic infrastructure, social services, and economic or financial resources or opportunities.
Communities will also benefit from road safety awareness campaigns to be conducted under the project.
All project roads will be geotagged with information accessible on the Internet, so the public can monitor road investment projects throughout the project life cycle, including procurement and construction.
Additionally, the assistance will help finance the detailed design of 300 kilometers of national highways in Mindanao, which will be constructed through other projects.
Institutionally, it will help the Department of Public Works and Highways improve the long-term planning, fiscal accountability, and human resource management in the transport sector in Mindanao and the rest of the country.
“Improving roads in Mindanao will support the development of economic opportunities in areas such as agribusiness, ecotourism, and logistics, and improve access to markets, jobs, education, and health facilities,” said Jeffrey Miller, Principal Transport Specialist at ADB’s Southeast Asia Department.
The total project cost is estimated at USD503 million, with the Philippine government contributing USD123 million. (PR)