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July 14, 2024

ADB earmarks over $3-billion loan for Philippine rail, road projects

The Asian Development Bank (ADB) earmarked more than $3 billion in loans and grants for the Philippines in 2024 and 2025.

The pipeline for the Philippines stands at $3.425 billion, covering seven projects. These include the Manila Metro Rail Transit Line-4 and Laguna Lakeshore Road Network projects.

For 2024, projects like the City Disaster Insurance Pool, Mindanao Irrigation Development Project Phase I, and Baguio Resilient City Tourism Project are in line for approval.

In 2025, the largest project is the Laguna Lakeshore Road Network project.

Initiatives such as the Sustainable Tourism Development project and Mindanao Agro-Enterprise Development Project are set for approval.

ADB anticipates lending up to $20 billion to the Philippines in the next five years, with a focus on climate change-related efforts.