ADB approves $175 million loan for 3 'Build, Build, Build' bridges over Marikina River

ABS-CBN News

Posted at Dec 15 2021 09:13 AM

MANILA - The Asian Development Bank said Wednesday it has approved a $175 million (P8.8 billion) loan to help fund 3 new bridges over the Marikina River.

The new climate-resilient bridges will improve and decongest traffic in Metro Manila, the ADB in a statement.

The ADB said the Metro Manila Bridges Project would build bridges totaling 3,024 meters over the Marikina River, including the Marcos Highway - St. Mary Avenue Bridge, Homeowner's Drive - A. Bonifacio Bridge and Kabayani Street - Matandang Balara Bridge.

Bridges were designed to reduce flood risks and absorb shocks from strong earthquakes, the Manila-based lender said.

The project is part of the government's ambitious Build, Build, Build program, it added. 

“The project is ADB’s first focused on bridge construction in the Philippines and will help in the country’s economic recovery from the COVID-19 pandemic by creating jobs, improving the living conditions of residents near the river, and providing them with better access to the rest of Metro Manila," said ADB Transport Specialist for Southeast Asia Chaorin Shim.

The ADB's current investments in big-ticket infrastructure projects in the country include the Malolos Clark Railway Project, EDSA Greenways Project and the Angat Water Transmission Improvement Project.

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