MANILA, Philippines – Another World Bank loan in the amount of $ 250 million has been added to the short-term pipeline for the Philippines to improve transportation networks in the war-torn city of Mindanao.
The proposed transport connectivity project in Mindanao will cover most of the cost of the $ 380 million project.
The World Bank has not yet disclosed the approval date.
The most recent upcoming loan brought the total number of World Bank grants to the Philippines to 13.
These 13 outstanding loans amounted to a combined amount of $ 3.18 billion.
On June 24 (Thursday evening, Manila time), the Washington-based board of the World Bank will approve the first $ 400 million financial sector reform development policy funding to be put into effect. implemented by the Ministry of Finance (DOF).
On June 2, the lender approved a $ 300 million loan for the Department of Public Works and Highways (DPWH) Seismic Risk Reduction and Resilience Project, which will fortify government buildings in Metro Manila. to prepare for an earthquake of magnitude 7.2 or greater, or “The big one.” It will cover most of the cost of the $ 309.5 million project.
Last week, the World Bank approved $ 280 million for the second additional financing of the Rural Development Project of the Ministry of Agriculture (DA).
The Beijing-based Asian Infrastructure Investment Bank (AIIB) said in a report that the implementation of the DPWH and Metropolitan Manila Development Authority (MMDA) flood management project in the metropolitan area of Manila was falling behind.
So far, only $ 7.2 million on the Beijing-based lender’s $ 207.6 million loan has been disbursed in February. In 2017, the World Bank and AIIB each contributed $ 207.6 million for the project, while the remaining $ 84.7 million of the total cost of $ 500 million was disbursed by the national government.
“The implementation of the project has progressed more slowly than the initially agreed time frame. The COVID-19 pandemic has had a significant impact on the progress of the project, in particular the procurement process since March 16, 2020, ”AIIB said.
AIIB said some components of the project, such as a pumping station in the Tondo district of Manila, have been completed. “The installed system worked well during Typhoon Ulysses,” said the AIIB.
The procurement stage for another pumping station in Tondo was completed “using the innovative tender design, supply and installation method,” he said.
Contracts for two more pumping stations in Manila are expected to be awarded in the second quarter of 2021, according to the lender.
“This supply will be followed shortly for the remaining pumping stations,” said the AIIB.
“A number of activities related to solid waste management are underway, including cleaning up waste from pumping stations and increased efforts to recycle waste, including plastics,” he added.
This project will benefit 1.7 million residents near 56 “potentially critical” drainage systems on 4,900 hectares of flood-prone areas in Metro Manila.
Upon completion of the project in 2024, these areas are expected to be free of water within 24 hours of heavy rain.
The project included the rehabilitation of 36 existing pumping stations, as well as the construction of 20 new stations.
To subscribe to REQUEST MORE to access The Philippine Daily Inquirer and over 70 other titles, share up to 5 gadgets, listen to the news, download at 4 a.m. and share articles on social media. Call 896 6000.