The Government of Philippines has secured a loan from Asian Development Bank (ADB) worth USD175 to fund the development of three Marikina River bridge projects to improve traffic congestion in Manila. The loan will be used to build three new climate- and disaster-resistant bridges totalling 3,024 metres including the Marcos Highway-St. Mary Bridge, the Homeowner’s Drive-A. Bonifacio Bridge, and the Kabayani Street-Matandang Balara Bridge. Once completed, the three bridges are expected to improve connectivity to the rest of Metro Manila.
The bridges will be designed with improved technology to lessen flood risks and absorb shocks from big earthquakes. This is ADB’s first financing in the Philippines entirely focused on bridge development project. Details regarding the loan’s conditions have not been announced.
The project is also in line with the ADB’s country partnership plan for the Philippines, which emphasises funding for the country’s infrastructure development from 2018 to 2023.
