ADB extends $650 million financing for Bataan-Cavite Interlink Bridge

MANILA, Philippines — Asian Development Bank (ADB) is extending a $650-million loan to the Philippines for the financing of Bataan - Cavite Interlink Bridge (BCIB) project.

Department of Finance (DOF) Secretary Benjamin Diokno and ADB Philippine Office country director Pavit Ramachandran signed yesterday the first tranche of the loan at the ADB headquarters in Ortigas Center. 

The ADB has earlier approved financing of up to $2.11 billion (about P118.32 billion) for the construction of the 32.15-kilometer BCIB, poised to become one of the world’s longest marine bridges once completed. 

Present at the signing ceremony were Department of Public Works and Highways (DPWH) Secretary Manuel Bonoan; Department of Budget and Management (DBM) Secretary Amenah Pangandaman; National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan; Department of Transportation (DOTr) Secretary Jaime Bautista; ADB vice president Scott Morris; ADB managing director general Woochong Um; ADB Director-Generals Ramesh Subramaniam, Winfried Wicklein, and Emma Veve; DPWH Senior Undersecretary Emil Sadain; DOF Undersecretary Edita Tan; and DOTR Undersecretary Timothy John Batan. 

Bonoan said the signed loan agreement is a crucial step forward in the realization of BCIB connecting Bataan and Cavite provinces across Manila Bay to decongest Metro Manila.

With this substantial investment, the DPWH thru the Unified Project Management Office (UPMO) Operations led by Senior Undersecretary Sadain with UPMO Roads Management Cluster II (Multilateral) Project Director Sharif Madsmo Hasim is well-positioned to execute the project procurement and construction in 2024. 

Sadain said the publication of the invitation to bid for the first two (2) contract packages is set to January 2024. 

The first package is the five-kilometer land approach including the interchange in Bataan while package 2 involves the 1.35-kilometer land approach including the interchange in Cavite.

Other packages are the 20.65-kilometer Marine Viaducts in the North and South under Packages 3 and 4; and 2.15-kilometer North Channel Bridge for Package 5 and 3.15-kilometer South Channel Bridge for Package 6. 

The 7th package involves project-wide ancillary works.

To sustain increased infrastructure investments and climate action in the Philippines, a $200 million (about P11.15 billion) loan agreement with ADB for the Infrastructure Preparation and Innovation Facility – Second Additional Financing (lPlF-AF2) was also signed that will directly support the delivery of more effective and more innovative infrastructure projects. 

The second additional financing will continue scaling up the scope of the ongoing project, comprising the original project and the first additional financing, to respond to the government’s new investment needs. 

The project aligns with the Philippine Development Plan (PDP) 2023-2028 and extends its benefits by boosting project readiness and accelerating development of low-carbon and climate resilient public infrastructure projects.