By TED CORDERO, GMA News
The Asian Development Bank (ADB) on Thursday announced it has approved up to $4.3 billion in loan financing for the southern leg of the North-South Commuter Railway (NSCR) project connecting Metro Manila and Calamba, Laguna.
In a statement, the Manila-based multilateral lender said the approved amount for the nearly 55-kilometer South Commuter Railway project was the ADB's “largest infrastructure financing in the Asia and Pacific region to date.”
The South Commuter Railway, or the Manila-Calamba line, forms part of the 163-kilometer NSCR as the project’s Phase 3 along with the Phase 1 Tutuban to Malolos, Bulacan line and Phase 2, the Malolos to Clark, Pampanga line.
The South Commuter Railway will run from Blumentritt Road in Manila all the way to Calamba.
The financing for the Manila-Calamba railway line exceeds that of the Malolos-Clark’s $2.75 billion, which was then the ADB’s largest infrastructure investment.
The project will be co-financed by the Japan International Cooperation Agency (JICA).
In particular, the ADB will finance civil works for the railway viaduct, stations, bridges, tunnels, and depot buildings, while JICA will fund the rolling stock and railway systems.
The Manila-Calamba railway project will be financed under a multi-tranche financing scheme, with the first tranche of $1.75 billion to be made available starting this year, while the release of the second and third tranches is expected in 2024 and 2026, respectively.
The South Commuter Railway will offer commuters fast public transport, help to ease road traffic congestion, and contribute to a reduction in greenhouse gas emissions in line with the Philippines’ climate change agenda, according to the ADB.
The ADB said the project includes the construction of 18 stations designed to provide safe access for all, including the elderly, women, children, and people with disabilities; and a connecting tunnel to allow the operation of direct trains from Calamba to stations on the future Metro Manila Subway system.
All infrastructure will be designed to be disaster-resilient and able to withstand typhoons and earthquakes, the lender said.
The railway will be elevated to avoid flooding and reduce the impact and disruption to communities along the railway route.
The Manila-Calamba railway is also seen to reduce travel time between Manila and Calamba by over half, from 2.5 hours currently by road.
“This project represents ADB’s biggest infrastructure investment and reflects our commitment to helping the Philippines attain its goals of reducing poverty, improving the lives of Filipinos, and achieving green, resilient, and high economic growth,” said ADB vice president for East Asia, Southeast Asia, and the Pacific Ahmed Saeed.
Meanwhile, the overall NSCR project is seen to further strengthen the Philippines’ economic recovery from the adverse impact of the COVID-19 pandemic as it is expected to create more than 35,500 jobs during construction and over 3,200 permanent jobs during operation, the lender said.
The project will also create a substantial growth multiplier effect in the economy through supplier contracts and new opportunities opened with better connectivity in the region.
It will improve access to an average of more than 300,000 jobs within a one-hour commute for residents along the project.
The NSCR is among the Duterte administration’s infrastructure flagship projects under the "Build, Build, Build" initiative. —VBL, GMA News
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