THE government and the Asian Development Bank (ADB) have signed a $1.3-billion (P66.55 billion) loan for the Malolos–Clark Railway Project, which is expected to ease traffic in Metro Manila and spur growth once it is built.
In a statement on Thursday, the Manila-based multilateral lender said Finance Secretary Carlos Dominguez 3rd and ADB Vice President Ahmed Seed inked the loan — the first tranche of a bigger one worth $2.75 billion — in a ceremony witnessed by President Rodrigo Duterte at Malacañang.
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