Pia Gutierrez

ABS-CBN News

<p>MANILA -- The North-South Commuter Railway and the Bataan-Cavite Interlink Bridge are just two of the flagship projects expected to be assured of funding under the new country partnership strategy (CPS) with the Asian Development Bank (ADB).</p><p>The two projects were specifically mentioned by the National Economic and Development Authority in a statement on the new CPS. NEDA noted that the two flagship projects will make travel more convenient, strengthen regional integration, and stimulate economic growth in the Greater Manila Bay area.</p><p>In his speech during the launch and ceremonial turnover at the Malacañang Palace, President Ferdinand Marcos Jr. hailed the ADB for “laying the groundwork for a better future of the Philippines.”</p><div><a href="https://news.abs-cbn.com/business/2024/6/13/partial-operations-of-north-south-commuter-railway-pushed-back-to-2027-dotr-1527" rel="noopener noreferrer" target="_blank">North-South Commuter Railway partial operations pushed back to 2027: DOTr</a></div><div><a href="https://news.abs-cbn.com/business/2024/7/11/construction-of-bataan-cavite-interlink-bridge-pushed-back-to-2025-1901" rel="noopener noreferrer" target="_blank">Construction of Bataan-Cavite Interlink Bridge pushed back to 2025</a></div><p>According to the ADB, the strategy “aims for a prosperous, inclusive and climate-resilient future with a focus on human development, economic competitiveness and quality infrastructure, while boosting nature-based development and disaster resilience.”</p><p>It will focus on “addressing critical development needs and bolstering support on three key areas—human development, economic competitiveness and quality infrastructure, as well as nature-based development and disaster resilience.”</p><p>“These priorities are complemented by crosscutting initiatives that promote digital transformation, gender equality, and improved governance and institutional capacity. The strategy is underpinned by comprehensive climate change and private sector development plans, which outline specific actions ADB will undertake during the CPS period. The strategy&#x27;s implementation will adapt as needed to the rapidly evolving development landscape,” the ADB said.</p><p>“The new CPS for 2024-2029 tells us that growth means more than just numbers. Picture an economy growing at 6 percent annually, over 6 percent annually, where growth translates into real benefits for everyday Filipinos. Imagine smoother commutes that give you back precious hours, schools that open doors to opportunities for children, and a healthcare system that ensures that every family can access the care that they need,” Marcos said.</p><p>“This strategy is about turning lofty goals such as those into tangible improvements in the daily lives of our people. Today, we are not just talking about progress. We are delivering it with clear, impactful actions.”</p><p>The President also hailed the ADB’s “commitment to low-carbon transport, renewable energy, [and] resilient coastal development” which he says “is about a legacy of sustainability and of resilience.”</p><p>“Initiatives like the Integrated Flood Resilience and Adaptation Project represent a profound shift towards meaningful impact, ensuring that our growth translates into tangible improvements and a more secure future for all,” he said.</p><p>“So, as we mark today’s event, let us remember that the ADB’s commitment of over twelve billion dollars for the next three years is a precious vote of confidence in our shared vision for a brighter and better Bagong Pilipinas.”</p><p>The ADB is the Philippines’ leading multilateral development partner and the second-largest source of official development assistance (ODA). It has made a total net commitment of $8.84 billion, comprising 26 ODA loans and 23 ODA grants to the Philippines, according to NEDA.</p><div><br/></div><div><strong>RELATED STORY:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/BU1vkR2dddA?autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></div><div><br/></div><div><br/></div>

<p>The North-South Commuter Railway is one of the new projects that will be funded by the Philippines' new partnership with ADB. </p>

The North-South Commuter Railway is one of the new projects that will be funded by the Philippines' new partnership with ADB.

Funding for North-South Commuter Railway, Bataan-Cavite bridge seen assured under new PH partnership with ADB | ABS-CBN

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Funding for North-South Commuter Railway, Bataan-Cavite bridge seen assured under new PH partnership with ADB

Funding for North-South Commuter Railway, Bataan-Cavite bridge seen assured under new PH partnership with ADB

Pia Gutierrez,

ABS-CBN News

Published Sep 12, 2024 06:55 PM PHT

Read More:

ADB

Asian Development Bank

North-South Commuter Railway

Bataan-Cavite Interlink Bridge

NEDA

Marcos Jr.

flagship infra

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