Metro Manila (CNN Philippines, June 9) — The Asian Development Bank (ADB) has approved a $4.3 billion loan financing for the construction of a 55-kilometer railway project connecting Manila and Calamba in Laguna.
The investment in the South Commuter Railway Project, which is part of the massive North–South Commuter Railway (NSCR) network, is the Manila-based multilateral lender’s “largest infrastructure financing” in the Asia and Pacific region.
It said the project would be financed under a multitranche financing facility, with the first $1.75 billion to be released in 2022. The second and third tranches will be made available by 2024 and 2026.
The investment from the ADB would cover civil works for the railway viaduct, stations, bridges, tunnels, and depot buildings. The Japan International Cooperation Agency is financing the rolling stock and railway systems.
“All infrastructure will be designed to be disaster-resilient and able to withstand typhoons and earthquakes,” the ADB said.
Once up and running, the railway system, which will have 18 stations, will cut travel time between Manila and Calamba by over half from the current 2.5 hours.
“The South Commuter Railway will offer commuters fast public transport, help to ease road traffic congestion, and contribute to a reduction in greenhouse gas emissions in line with the Philippines’ climate change agenda,” the ADB said.
