Bataan to Cavite in 1.5 hours: Philippines secures $1.14 billion funding for new bridge
Bilyonaryo.com | May 24, 2024
(PHOTO: BILYONARYO.COM)
The Asian Infrastructure Investment Bank (AIIB) approved a financing package of up to $1.14 billion for the construction of the Bataan-Cavite Interlink Bridge (BCIB).
The project will be funded in tranches, with an initial tranche of $350 million already committed. Construction is targeted to start within the year.
Stretching across 32.15 kilometers, the BCIB project will slash travel time from Mariveles, Bataan to Naic, Cavite to just 1.5 hours from 5 hours.
The improved connectivity will unlock the economic potential of Bataan and Cavite, facilitating trade and attracting investment by making them more attractive destinations.
“The approval of the AIIB loan for the Bataan-Cavite Interlink Bridge project signifies a significant step towards realizing our vision of fostering inclusive and sustainable growth within the Greater Manila Area,” said Rajat Misra, AIIB acting vice president, Investment Operations (Region 1) said.
The BCIB prioritizes environmental responsibility and long-term resilience.
It incorporates green building principles, utilizes lower carbon concrete and asphalt, and adapts to natural hazards.
“By prioritizing climate-resilient infrastructure and leveraging technology, we aim to not only enhance connectivity but also contribute to the region’s economic development while mitigating and adapting to environmental impact,” he added.
Source: Bilyonaryo.com
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