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

  • Philippines and Korea Eximbank sign loan for Panguil Bay Bridge
    May 9, 2016
    The Philippines has signed a deal with the Export-Import Bank of Korea - Korea Eximbank – US$100 million loan. The 40-year loan will finance the Panguil Bay Bridge Project in Northern Mindanao. According to a report in Business World, the project requires a total investment of around $103.6 million. Panguil Bay is the narrow and shallow body of water between Lanao del Norte and Misamis Occidental. At its narrowest it is around 2km across. Considered a major infrastructure development in Northern Mindana
    Read More
  • US$410mn ADB loan to build second Vietnam Southern Highway
    August 14, 2013
    The Asian Development Bank (ADB) is to lend US$410 million to Vietnam for the construction of the Second Southern Highway that links Ho Chi Minh City and the Mekong Delta. The arterial highway will consist of two cable-stayed bridges measuring a total of 5km, and 26km of interconnecting roads and associated access. The interconnecting roads and two bridges are expected to reduce the three-and-a-half hour travel time between Long Xuyen and Ho Chi Minh City by an hour, while the 90-minute travel time between
    Read More
  • Funding for Cameroon road project
    October 11, 2021
    Funding is being secured for a key Cameroon road project.
    Read More
  • Bolivia's Santa Cruz road corridor connector project
    December 22, 2016
    Bolivia’s ambitious Santa Cruz road corridor connector project is providing an important link for the country - Gordon Feller writes The World Bank has been organising a US$230 million loan to upgrade a vital connector linking the country’s northern and southern transit corridors. Meanwhile, another $100 million is coming from Bolivia’s government.
    Read More

Highlighted Content