JAPANESE Ambassador Haneda Koji recently signed and exchanged notes with Foreign Affairs Secretary Teodoro Locsin Jr. to formalize cooperation on the P73 billion loan that will finance two major infrastructure projects in Cebu and Davao City.
These projects are the fourth bridge that will connect Mactan Island to mainland Cebu and the second Davao City bypass.
The two infrastructure projects seek to address connectivity and traffic congestion concerns confronting the developing metropolitan areas of Cebu and Davao.
The Cebu-Mactan Bridge, worth 119 billion yen (about P56 billion), is seen to improve the capacity of the existing road network in Cebu and facilitate faster movement of people, goods and services. It will connect central Cebu to the Mactan Economic Zone where many export-oriented industries are located.
In January 2020, the National Economic and Development Authority Board endorsed the funding of the Cebu-Mactan Bridge through the Official Development Assistance.
The Cebu-Mactan Bridge project involves the construction of a 3.3-kilometer bridge with an elevated viaduct of 3.385 kilometers, with two lanes in each direction.
It also includes the construction of a 4.9-kilometer four-lane coastal road with a 4.751-kilometer elevated viaduct. The Department of Public Works and Highways will implement it.
The second phase of the Davao City bypass, on the other hand, worth 35 billion yen (about P17 billion), will connect the southern tip of Davao to the center portion of the city so as to declog traffic in central Davao.
Both projects form part of the Philippine government’s “Build Build Build” program.
As a primary driver of economic recovery in this time of the coronavirus disease 2019 pandemic, these key infrastructure projects are eyed to help stimulate trade, business and job opportunities in the provinces and help spread growth throughout the country. (MVG with PR)