THE Philippines’ climate-resilient infrastructure efforts got a shot in the arm as the Asian Development Bank said that they are lending the Philippines $200 million or around P110 billion.
The fund will be used to further support the Philippines' preparation of complex and critical climate-resilient road, bridge, transport, and flood risk management projects identified by the government as flagship projects.
“The Philippines has raised its public infrastructure spending in recent years to steer the economy toward a sustainable, high-growth path,” according to ADB Senior Transport Specialist Daisuke Mizusawa.
The bank also said that they will assist the Department of Transportation and the Department of Public Works and Highways in conducting large and complex infrastructure projects.
ADB also said that they are committed to financing the $8.4 billion for transport projects.
This includes the Malolos Clark Railway Project and the South Commuter Railway Project.