ADB commits $100M infra loans to PH

0

The Asian Development Bank (ADB) will help fund the Philippines’ Build, Build, Build infrastructure program through loans, the bank’s president said on Monday.

“ADB will work with the government through a $100 million technical assistance loan to set up an Infrastructure Preparation and Innovation Facility that will provide knowledge to key line agencies and help fast-track priority projects,” ADB President Takehiko Nakao told a Philippine Transport Forum held at the ADB headquarters in Mandaluyong City.

A separate $5 million in technical assistance will support the development of a project management and information system to assist government agencies in identifying bottlenecks, monitor project status, and be able to deliver approaches for high quality project implementation.

Nakao said the ADB also aims to improve the traffic condition on the main EDSA thoroughfare. “Traffic management should be improved,” Nakao said.


Transport secretary Arthur Tugade said the Build, Build, Build program alone will not solve the country’s traffic problems.

The country needs education and strict enforcement of laws and discipline among Filipinos, he said, pointing out that these are the things being taken for granted, especially in implementing traffic rules.

The transport secretary also promised to fast-track the infrastructure projects under the Duterte administration by keeping his department corruption-free as they strive to facilitate the building of the projects.

The Philippines is expected to spend about P8.4 trillion on infrastructure projects during the incumbent government.

Share.
.
Loading...

Please follow our commenting guidelines.

Comments are closed.