Philippines project finding funding

Road in the area around Mindanao in the Philippines will benefit from the provision of a loan worth US$380 million. This funding package is being supplied by the Asian Development Bank (ADB). The loan will be used for the Improving Growth Corridors in Mindanao Road Sector project. This is intended to improve and upgrade up to 280km of roads in the area. A further $123 million is being provided by the Philippines Government for the work, which will cost $503 million in all.
December 20, 2017 Read time: 1 min
Road in the area around Mindanao in the Philippines will benefit from the provision of a loan worth US$380 million. This funding package is being supplied by the 943 Asian Development Bank (ADB). The loan will be used for the Improving Growth Corridors in Mindanao Road Sector project. This is intended to improve and upgrade up to 280km of roads in the area. A further $123 million is being provided by the Philippines Government for the work, which will cost $503 million in all.


Meanwhile financing has been secured for work to the next stage of the 109km Samar Pacific Coastal Project. The financing comes in the shape of a loan from the 1290 Export-Import Bank of Korea. The work on the highway will be carried out in 2018 and 2019.

Finance & Funding

For more information on companies in this article

Related Content

  • Loan funding Gabon projects
    January 13, 2016
    Gabon is to benefit from loans that will help pay for two key infrastructure projects. One project is for a new highway that will improve transport connections between a number of towns and capital Libreville. The other project is for the construction of a new port facility at Owendo. The loan facility is worth US$125 million and is being provided by the Development Bank of Central African States. In all the projects will cost $200 million to carry out with the work on both planned for completion during 201
    Read More
  • Mozambique bridge due to open
    May 11, 2018
    Mozambique’s Maputo-Catembe Bridge is due to open shortly and will become Africa’s longest suspension bridge. The 3km bridge will form part of the road connection between Maputo, Mozambique’s capital, and Catembe. The bridge is costing over US$700 million, with much of the necessary funding being provided by the Export Import Bank of China. The new bridge will improve transport and reduce journey times for drivers, who currently have to rely on ferries travelling between Maputo and Catembe.
    Read More
  • Bosnia gets EBRD loan for Corridor 5c work
    January 8, 2024
    The project will include the construction of an interchange and a 15 km dual-carriage motorway section, along the Mostar North-South section.
    Read More
  • Concrete in the Philippines
    October 17, 2022
    The booming construction sector in the Philippines is said to be fuelling strong demand for concrete batching plants
    Read More

Highlighted Content