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

  • Vietnam plans highway building
    February 24, 2012
    Vietnam Expressway Corporation (VEC) reports strong interest in for the 58km Ben Luc-Long Thanh expressway project.
    Read More
  • South East Asia highway to connect Myanmar, Vietnam, Thailand, Laos
    November 18, 2015
    Plans are in hand in South East Asia for an improved road link connecting Vietnam, Thailand, Myanmar and Laos. A loan from the Asian Development Bank (ADB) worth US$100 million will help fund the work for the 66.4km section running between Kawkareik and Eindu in Myanmar. The highway will run for some 1,450km in all. The road will be called the East-West Economic Corridor and is of key importance to open up trade and transport between these nations. Talks for this project are underway at present.
    Read More
  • Roads upgrade in India’s Maharashtra State
    August 12, 2019
    A major road upgrade programme is being planned for India’s Maharashtra State. A loan worth US$200 million is being provided by the Asian Development Bank (ADB) to pay for the work. The plan calls for roads in 34 of Maharashtra State’s districts to be surfaced. The State Government will provide $96 million to the programme also. The ADB is also providing a$1 million for technical assistance to the Maharashtra Rural Road Development Association.
    Read More
  • Chinese investment sought for Cameroon roads
    September 19, 2024
    Chinese investment is being sought for Cameroon’s road improvements.
    Read More

Highlighted Content