On Thursday, the Asian Development Bank (ADB) and the Department of Transportation (DOTr) formally signed the Transaction Advisory Services Mandate for the different public-private partnership projects in the transportation industry.
According to Transportation Secretary Jaime Bautista, ADB will help in finalizing the terms of reference for the projects, which include the privatization of the Ninoy Aquino International Airport, the North-South Commuter Railway, and the Metro Manila Subway.
Regional airports are also included, including those in Bacolod, Iloilo, Laguindingan, and Bohol.
The DOTr chief disclosed that although some interested parties had already filed their amended proposals, others had requested additional time.
Meanwhile, DOTr Undersecretary TJ Batan said the assistance of ADB is required to carry out such large projects according to international best practices.
Furthermore, the ADB said the partnership would improve transportation and ease traffic in the country.
“Harness the power of the private sector’s efficiency and managing infrastructure projects and delivering safe, affordable infrastructure services for all people of the Philippines,” said F. Cleo Kawawaki, Head of ADB’s Office of Public-Private Partnership.