ADB gives $4.3bn loan for Philippines’ Rail Project

The 55km South Commuter Railway Project between Metro Manila and the city of Calamba has received approval from the Asian Development Bank (ADB) for a loan of up to $4.3 billion. 18 stations will be built as part of the project, and a tunnel will connect them to provide an interchange with the Metro Manila Subway.

The railway will be elevated to prevent floods and built to resist earthquakes and typhoons. When finished, it would be the largest infrastructure project undertaken by the ADB in the Asia–Pacific area and a component of the North-South Commuter Railway (NSCR).

The first $1.75 billion tranche of the South Commuter Project’s financing will be made available this year. The second and third tranches should be released in 2024 and 2026, respectively.

The Japan International Cooperation Agency will finance the train stock and signalling systems, and the Asian Development Bank will finance the viaducts, stations, bridges, tunnels, and depot structures. The Malolos–Clark Railway line, now being built north of the city, was funded by ADB before the project.