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

  • Funding package secured for Myanmar bridge project
    December 4, 2018
    Funding has been secured for an important bridge project in Myanmar. The new bridge will connect the key commercial city of Yangon with Dala, spanning the Yangon River. The Economic Development Cooperation Fund of South Korea is providing a loan worth close to US$138 million for the work. The Myanmar Government is also providing over $188 million for the project. Originally the bridge was expected to cost $168 million but a series of design changes have resulted in a larger budget being required. One of the
    Read More
  • East Africa drives towards road tolling
    March 18, 2016
    Road tolling is increasing in East Africa as the region’s countries expand highway networks - Shem Oirere writes. The drive towards road tolling in East Africa is gaining momentum. Uganda appears to have broken ranks with its neighbours to make huge strides in achieving progress with this innovative road financing plan. Road tolling has hitherto has been held back in East Africa for lack of political goodwill and State bureaucracies. Kenyan government officials have made announcements on planned road tollin
    Read More
  • US$295 million funding for Uganda
    May 15, 2024
    A US$295 million funding package is being supplied to Uganda.
    Read More
  • We're here to help
    July 16, 2012
    Formed at the end of the Cold War, the European Bank for Reconstruction and Development has raised, and loaned, billions to revitalise infrastructure from central Europe to central Asia as Patrick Smith reports One of the highlights of the year for Thomas Maier has been the recent trip to Bratislava, the capital of Slovakia, where history was made. As the Business Group director in charge of the infrastructure sector at the European Bank for Reconstruction and Development (EBRD) he was present when contract
    Read More

Highlighted Content