A concessional loan agreement worth PHP17.39 billion has been signed between the Governments of the Philippines and China to finance the Davao-Samal bridge project. The loan has an annual interest rate of 2 per cent, to be paid over a period of 20 years, including a seven-year grace period.
Construction on the 4km four-lane bridge is scheduled to commence in July 2022. Works will be overseen by China Road and Bridge Corporation (CRBC) under a PHP19.32 billion contract awarded by the Department of Public Works and Highways (DPWH). The bridge is expected to open to passenger traffic in 2026.
The Davao-Samal bridge is one of the projects under the government of Philippines’ ‘BUILD BUILD BUILD’ programme.
