Thursday, July 11, 2019

Gov’t, ADB sign $1.3-B loan deal for Malolos-Clark Railway Project

The government and the Asian Development Bank (ADB) on Thursday signed a $1.3-billion loan agreement for the Malolos-Clark Railway Project (MCRP).

Finance Secretary Carlos Dominguez signed on behalf of the Philippines while ADB Vice-President Ahmed Saeed signed for the Manila-based multilateral lending bank.

The signing ceremony was witnessed by President Rodrigo Duterte in Malacañang.


The amount is the first tranche for the total $2.75-billion loan that will be used for the railway project.

https://business.inquirer.net/274436/govt-adb-sign-1-3-b-loan-deal-for-malolos-clark-railway-project

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