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MANILA, Philippines — The Asian Development Bank (ADB) is looking at lending the Philippines up to $3.3 billion this year, including $100 million to augment the ongoing improvement of water transmission from Angat Dam to Metro Manila, officials said Thursday.
During a forum with the Foreign Correspondents Association of the Philippines (Focap), ADB president Takehiko Nakao told reporters the Manila-based multilateral lender used to lend the country about $1 billion a year, but will jack it up to an average of about $2.5 billion yearly.
Among the projects to be financed by the ADB included the Malolos-Clark International Airport segment of the Philippine National Railways (PNR) North 2 project, which will eventually extend to the New Clark City in Tarlac up north.
Together with the PNR South Commuter Line, the ADB will co-finance with the Japan International Cooperation Agency (Jica) the massive North-South Commuter Railway (NSCR) System stretching to Calamba, Laguna down south.
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Nakao said the ADB component covering civil works of the multi-year loan for the Malolos-Clark railway would amount close to $3 billion, of which $1.3 billion were to be committed for approval this year.
ADB would also lend $300 million to support a project in the education sector, on top of $200 million in project preparation technical assistance loans for the Duterte administration’s ambitious “Build, Build, Build” infrastructure program, Nakao added.
