THE ASIAN Development Bank (ADB) on Tuesday said it has approved up to $2.1 billion (P116.8 billion) in financing for the construction of a bridge linking the provinces of Bataan and Cavite across Manila Bay.
“The Bataan-Cavite Interlink Bridge (BCIB) project, one of the government’s flagship infrastructure projects, will complete the transport loop around Manila Bay and better link Metro Manila to Central Luzon and nearby Cavite, Laguna, Batangas, Rizal and Quezon provinces,” the multilateral lender said in a statement.
The project involves the construction of a 32.15-kilometer (km) “climate resilient” bridge, 24 km of marine viaducts and eight kilometers of approach road.
The ADB said the bridge would reduce travel time to one-and-a-half hours from five hours previously between Bataan and Cavite, and about two hours from four hours between Bataan and Metro Manila.
“The traffic decongestion in Metro Manila and the reduced travel time will help lower annual greenhouse gas emissions in the country by an estimated 79,000 tons of carbon dioxide equivalent,” it said.
The ADB said the BCIB project would be financed under a multi-tranche financing facility, with the first tranche amount of $650 million (around P36.2 billion).
“This project will transform the economic landscape of Central Luzon, unlock the full potential of Bataan and Cavite for trade, manufacturing and industrial output, and boost their tourism,” ADB Vice-President for East and Southeast Asia and the Pacific Scott Morris said in a statement. “Once completed, BCIB will offer a platform for reimagining a more vibrant, resilient, and dynamic greater Manila Bay area.”
“BCIB will provide the road connectivity to Manila, Cavite and southern Luzon that will boost Bataan’s potential to host more manufacturing industries in the Freeport Area of Bataan, the only freeport in the Manila Bay area, making it an ideal transshipment hub,” it said.
The project will also boost the use of the Mariveles port in Bataan as an alternative to the port of Manila.
The ADB-financed Infrastructure Preparation and Innovation Facility supported the preparation, environment and social safeguards due diligence, and detailed engineering design for the bridge.
“The project will follow high technical standards to boost resilience to natural hazards and the effects of climate change, such as sea level rise, increase in temperature and heatwaves, and extreme weather events. The bridge will be built using low-carbon technologies and construction materials where applicable,” it said.
The multilateral lender also cited other transport projects in the pipeline, including the Metro Manila Rail Transit Line 4 and the Laguna Lakeshore Road Network.
“These projects will expand and transform the transport network in the metropolis, improve regional connectivity, and offer Filipinos access to more job opportunities,” Mr. Morris added.
Earlier this month, the ADB said it is allocating $10 billion in climate finance for the Philippines from 2024 until 2029.
Last week, the bank also approved a $450-million loan to the Philippines to help enhance its universal healthcare program.
The lender said it is earmarking up to $4 billion annually for the Philippines until 2029.
Last year, the ADB was the Philippines’ top provider of active official development assistance (ODA). It extended $10.85 billion worth of ODA, or about a third (33.47%) of the country’s total portfolio. — L.M.J.C. Jocson