The Department of Transportation (DOTr) said Friday it is seeking additional funds from the Asian Development Bank (ADB) to support more transport infrastructure projects in the Philippines.
Transportation Secretary Jaime Bautista said the agency would continue to tap the ADB to open “opportunities for equitable progress and growth for business, investment, tourism and employment.”
“To achieve this program, we [must] undertake initiatives that address connectivity and efficient mobility,” Bautista said during the 3rd DOTr-ADB coordination meeting.
Data show there are nine agreements between the DOTr and ADB, which will fund transport infrastructure projects from aviation, railways and road sectors. The total agreements amount to P1.2 trillion.
Among the ADB-funded projects are North-South Commuter Railway (NSCR), Metro Rail Transit Line-4, Davao Public Transport Modernization Project, EDSA Greenways Project and the multi-sectoral Infrastructure Preparation and Innovation Facility – Output 3.
The South Commuter Railway Project, part of the North-South Commuter Railway (NSCR) network, is ADB’s largest infrastructure financing in the Asia and Pacific region.
Meanwhile, the ADB has a total of 17 upcoming and ongoing contract packages with at least P187 billion in cost estimate.
The DOTr also seeks on top of funding the ADB’s technical assistance in terms of developing an all sectors lifecycle monitoring and evaluation framework, local tax experts (LTEs) and development of right-of-way acquisition (ROWSA) manual for ADB-financed projects.
Bautista said the ADB-funded projects would help position the Philippines as a dynamic investment hub and an emerging gateway country to Asia.
“We are optimistic that the ADB would appreciate the investment prospects in the Philippines towards boosting the country’s economic growth and addressing the social needs of Filipinos,” Bautista said.
ADB director general for Southeast Asia Winfried Wicklein expressed the multilateral agency’s support to the Philippines to improve the country’s transport system.
“We are looking forward to continuing thinking through and programming future support,” Wicklein said.