The Philippine government is eyeing to secure loan financing from the Asian Development Bank (ADB) to bankroll the P175 billion Bataan-Cavite Interlink Bridge by November 2023, the DPWH said.
In a statement, the DPWH said it concluded its two-week discussions with the ADB’s Fact-Finding Mission "with the aim of obtaining loan approval for the project by November."The DPWH said the discussions focused on appraising overall project readiness prior to the preparation of loan agreement for the 32-kilometer Bataan-Cavite bridge project.The Manila-based multilateral lender is co-financing the project with the Asian Infrastructure Investment Bank .
The project will be divided into seven contract packages with the construction to begin first in the two on-land packages. Package 1 is the five-kilometer Bataan Land Approach and Package 2 is the 1.35-kilometer Cavite Land Approach.Meanwhile, Packages 5 and 6 are the North Channel and South Channel Bridges with a length of 2.15 and 3.15 kilometers, respectively.The 32.
The bridge will have two navigational bridges, the 400-meter North Channel Bridge and the 900-meter South Channel Bridge, that are expected to traverse Corregidor Island.The bridge is also seen to decongest traffic in Metro Manila, help reduce prices of goods and services as transport and logistics costs would be decreased, and create economic opportunities in Bataan and Cavite as well as their adjacent provinces.
Once this bridge is completed, the DPWH said travel time between the provinces of Bataan and Cavite will be reduced from the current five-and-a-half hours to about 45 minutes.
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