ADB approves 1.45 bln USD final tranche for Philippines’ railway project

MANILA, Apr 16: The Asian Development Bank (ADB) said Wednesday it has approved 1.45 billion U.S. dollars as the second and final tranche of its multi-tranche financing facility for the railway project that connects northern and southern Luzon provinces to Metro Manila.
The Malolos-Clark Railway project (MCRP) is a 53.1-km segment of the 163-km North-South Commuter Railway (NSCR), which promises to reshape mass transportation in the country using disaster-resilient design and high-technology construction methods.
Then, the ADB also finances the southern leg of the NSCR system, the South Commuter Railway Project.
The MCRP features three types of commuter service: regular commuter trains, express trains with stops at stations with high passenger demand, and the country’s first airport express trains connecting to Clark International Airport. It aims to help lower the country’s greenhouse gas emissions with the shift to mass transit from private vehicles.
“The Malolos-Clark Railway Project is one of the ADB’s biggest financing projects in the entire Asia and Pacific region,” said ADB Philippines Country Director Pavit Ramachandran, adding that the project will boost the country’s growth momentum with more investment and employment opportunities. (UNI)

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