NextGen Day

MANILA, Philippines — In the last months of Duterte’s presidency, Finance Secretary Carlos Dominguez III hailed the Asian Development Bank (ADB) for supporting the construction of three climate-resilient bridges to help decongest Metro Manila’s congested neighborhoods and create more jobs.

These bridges, which span the Marikina River for almost three kilometers (km), are among the 12 that will be erected as part of the Metro Manila Bridges Project.

In ceremonies held at the Department of Finance (DOF) office in Manila on Wednesday, Dominguez, and ADB Managing Director General Woochong Um exchanged copies of the loan documents for the building of the three bridges.

“These bridges are critical components of the ‘Build, Build, Build’ program, which will aid our economy’s recovery from the pandemic’s negative impacts.” Infrastructure investments, with their strong multiplier effect and job-generating potential, will be the motor for our swift economic recovery, according to Dominguez.

The ability of the three ADB-funded bridges to absorb large earthquake shocks and reduce flood risks in the area, he said, makes the climate- and disaster-resilient.

The project is a “milestone for the Philippines’ ‘Build, Build, Build’ campaign,” according to Um.

“We are now, hopefully, seeing the beginning of the end of the pandemic. And the financing agreement’s signature comes at a crucial time. We must continue to invest in infrastructure today, as it is critical for securing high economic growth in 2022, and this follows a very good (Philippine) comeback of 5.6 percent last year “he stated

During the ceremony, Um also took the opportunity to honor Dominguez for his outstanding leadership as governor of the Asian Development Bank (ADB) for the Philippines.

The three bridge projects will be funded by an ADB loan of USD175.1 million (about PHP8.8 billion).

The Marcos Highway-Saint Mary Avenue Bridge, Homeowner’s Drive-A Bonifacio Bridge, and Kabayani Street-Matandang Balara Bridge are three infrastructure projects that will begin construction in the first half of this year and will be completed in 2026.

“We thank the Asian Development Bank for its unwavering support for our infrastructure renovation program. We are certain that, with the help of our development partners, we can quickly return to a path of strong, inclusive, and sustainable growth for our people in the coming years,” Dominguez added.

Since the beginning of President Duterte’s administration, the ADB has continuously and vehemently supported his signature initiative, “Build, Build, Build.”

The Malolos-Clark Railway, the Improving Growth Corridors in Mindanao Road Sector, the EDSA Greenways, and the Angat Water Transmission Improvement are among the big-ticket infrastructure projects that the ADB has supported through its financing assistance for “Build, Build, Build” totaling USD2.3 billion.

As a result of the easing of pandemic-related limitations, traffic congestion in Metro Manila has returned this year.

According to Dominguez, despite the fact that Metro Manila already has 30 bridges over significant waterways, they are insufficient to adequately transport vehicular traffic, prompting the Duterte administration to plan the construction of 12 more iconic bridges in the medium term.

The ADB authorized the loan for the three bridges in December of last year, and it went into effect on February 10, 2022.

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