ADB approves $1.45B loan for Malolos-Clark Railway Project

The Asian Development Bank (ADB) has approved a $1.45-billion loan as the second and final tranche for the Malolos-Clark Railway Project, which is part of a larger initiative to develop a world-class mass transportation system in the Philippines.

This project aims to connect Clark International Airport with Metro Manila and Calamba, Laguna, forming a 53.1-kilometer segment of the North-South Commuter Railway (NSCR) system.

ADB's country director for the Philippines, Pavit Ramachandran, highlighted that this is one of ADB's largest financings in Asia and Pacific, expected to stimulate investments, create jobs, and boost economic growth.

The Malolos-Clark Railway will promote regional economic integration by creating linkages to the Central Luzon Corridor and helping decongest Metro Manila.

Aside from ADB's funding, the Japan International Cooperation Agency (JICA) is co-financing the project, providing rolling stock and railway systems such as track, electrical, and mechanical components.

ADB Philippines Country Director Pavit Ramachandran also mentioned that the bank aims to finance approximately $4 billion for Philippine projects this year, including various sectors like infrastructure, healthcare, food security, and the blue economy.