The Department of Public Works and Highways worked with the Department of Finance for the conduct of a performance review on flagship infrastructure projects funded by foreign official development assistance last week.
The Department of Public Works and Highways (DPWH) and the Department of Finance (DOF) vowed to implement more efficient and effective public infrastructure projects and took advantage of the Covid-19 hiatus toward economic recovery and sustainable development.
Officials from the DPWH and DOF met
Projects covered by financing partnership arrangements with ADB, a multilateral financial institutions, are the Improving Growth Corridors in Mindanao Road
Construction of P9B new bridges crossing Marikina River underway philippinetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philippinetimes.com Daily Mail and Mail on Sunday newspapers.
(photo via DPWH)
Undergoing “detailed engineering design” are J.P. Rizal-Lopez Jaena Bridge and Marcos Highway-St. Mary Bridge (formerly J.P. Rizal-St. Mary Bridge) both in Marikina City; and Kabayani-Katipunan Avenue Extension Bridge (formerly Marikina-Vista Real Bridge). The bridges will link Marikina and Quezon City.
As this developed, Villar said the agency and Asian Development Bank (ADB) signed a memorandum of understanding (MOU) for the projects’ loan application.
The MOU states that the overall scheduled timeline for the engineering works and the National Economic and Development Authority – Investment Coordination Committee review/ approval are identified.
The loan processing and procurement of the Metro Manila Bridges Project, which cover the three bridges, is expected to be signed in December 2021, Villar said.