The Asian Development Bank (ADB) granted on Thursday night a $380-million loan to the Philippines aimed at strengthening Mindanao’s road network and spur economic development there.
Approved by the Manila-based multilateral lender’s board of directors, the Improving Growth Corridors in Mindanao Road Sector Project seeks to improve about 280 kilometers (km) of national roads and bridges in in the island region. It represents ADB’s biggest infrastructure investment there in 16 years.
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