The World Bank (WB) gave the Philippines a new financial grant to fund the construction of the first bus rapid transit in the country, Malacañang said on Sunday.
In a radio interview, Presidential Communications Secretary Herminio Coloma Jr. thanked the WB for the $141-million loan package for the Cebu Bus Rapid Transit (CBRT) project.
“Malugod na tinatanggap ng pamahalaan ang pag-apruba ng World Bank Board Executive Directors ng isang financing package na nagkakahalaga ng 141 milyong dolyar para sa pagpapatupad ng proyektong Cebu Bus Rapid Transit [The government welcomes the approval of the World Bank Board Executive Directors of the financing package worth $141 million for the implementation of Cebu Bus Rapid Transit project],” Coloma said.
According to him, the financial package includes $116 million from the bank and $25 million from the Clean Technology Fund. The project will include the construction of terminals, stations, depots and other facilities.
The Philippine government will put in more than $87 million in counterpart funding.
The CBRT will run from the town of Bulacao to Talamba in Cebu City. This is expected to deliver a fast, reliable, safe and climate-friendly transport system, Coloma said.
He added that the BRT will use buses that will have dedicated lanes, carrying a large number of passengers compared to other public transport vehicles.
“Inaasahang mahigit sa tatlong daang libong pasahero ang makikinabang sa BRT araw-araw na naglalayong ibsan ang polusyon at tiyakin ang kaligtasan at ginhawa sa pagbabiyahe ng mga residente ng Cebu [The BRT system will benefit more than 300,000 passengers daily while reducing pollution and ensuring travel safety and convenience of residents of Cebu],” Coloma said.