The Asian Development Bank (ADB) has approved a USD650 million loan to fund the construction of a 32.15-km-long Bataan-Cavite Interlink Bridge (BCIB) across Manila Bay in the Philippines. Additionally, the Asian Infrastructure Investment Bank (AIIB) has also approved a USD350 million counterpart loan as a part of the first tranche of financing for the project.
Construction is scheduled to start in 2024 with works divided into seven contract packages.
The USD3.91 billion bridge project is being developed by the Department of Public Works and Highways (DPWH) and is a priority project under the Government of the Philippines’ Build, Build, Build (BBB) programme. The bridge construction will bankrolled through a multi-tranche financing of which USD2.1 billion will be provided by the ADB while AIIB has committed USD1.14 billion towards the construction. Meanwhile, the remaining USD664.23 million will be provided by the government.
Once completed, it will be the world’s longest marine bridge with almost 80 per cent of the structure above sea. It will feature two cable-stayed bridges, 24 km of marine viaducts, and an 8 km approach road in the two provinces. The project will reduce travel time between the provinces of Bataan and Cavite from 5 hours to just 45 minutes.
