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The Department of Public Works and Highways plans to complete seven large-scale bridges worth P86 billion before the Marcos administration ends in 2028.
December 17, 2020 | 12:32 am Font Size
PHILIPPINE STAR/MICHAEL VARCAS
THE ASIAN Development Bank (ADB) on Wednesday said it is looking to extend up to $9.4 billion in loans to the Philippines between 2021 and 2023 to support the economic recovery through infrastructure, health, and employment programs.
In a statement, ADB said more than half (52%) of the loans will support transportation projects including railways, roads and bridges, and 12% of the loans will finance the implementation of the Universal Health Care (UHC) Act.
“We have designed our new Country Operations Business Plan to help the Philippines overcome the socioeconomic impact of the pandemic. We are focusing on infrastructure projects that have large employment multipliers and support long-term economic growth through improved connectivity,” ADB Vice-President Ahmed M. Saeed said in a statement.