ADB agrees $200m loan to support Philippine's Build, Build, Build program
The Asian Development Bank has approved a $200 million loan to help the Philippine government prepare and implement major infrastructure projects under its flagship “Build, Build, Build” development program.
The loan, as additional financing to the ongoing Infrastructure Preparation and Innovation Facility, will support the preparation of several transformative projects, including the detailed engineering design of the Bataan–Cavite Interlink Bridge Project, and the Metro Rail Transit Line 4 connecting Ortigas in Metro Manila to Taytay in eastern Rizal province.
It will also provide project implementation and preparation support for staff at the Department of Transportation and the Department of Public Works and Highways.
The Build, Build, Build program aims to boost long-term economic growth by increasing public infrastructure investments to 7.0% of gross domestic product by 2022.
