The Asian Development Bank (ADB) on Thursday approved a $1-billion loan to finance the modernization of public transportation in Davao City, its largest road-based public transport project in the Philippines to date.
In a statement, the ADB said the loan will finance the Davao Public Transport Modernization Project, which will support the acquisition of some 1,100 modern buses to be operated by the private sector under performance-based contracts.
The project is expected to cater to an estimated 800,000 passengers daily through 1,000 bus stops, five bus depots, and three bus terminals under an intelligent transport system that includes a bus location system and automatic fare collection systems. "Not only will this support the Philippines’ climate goals, but it will also help to improve the lives of vulnerable populations, especially women and the young who use public transport daily," he added.
A $1-million technical assistance grant will also be handed out to the Department of Transportation and the local government of Davao City to develop staff capacities to oversee bus operations and the overall implementation of the project.to support growth initiatives in the Philippines, where it is headquartered.
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