MANILA (Xinhua): The Asian Development Bank (ADB) on Thursday (June 9) said it has approved up to US$4.3 billion to help finance the construction of nearly 55km of a modern suburban railway line connecting the Philippine capital region with Calamba City in the neighboring Laguna province.
The Manila-based bank said the investment in the South Commuter Railway Project, which is part of the North-South Commuter Railway network, is ADB's largest infrastructure financing in the Asia and Pacific region to date.
Once completed, the railway project will offer commuters fast public transport, help ease road traffic congestion, and contribute to gas emissions reduction in line with the Philippines' climate change agenda.
"The South Commuter Railway Project will provide affordable, safe, reliable, and fast public transport for commuters," ADB Vice-President for East Asia, South-East Asia, and the Pacific, Ahmed Saeed said.
The ADB said the railway, one of the country's infrastructure flagship projects and part of the government's "Build, Build, Build" infrastructure development programme, will further strengthen the economic recovery from 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.
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