MANILA – The Asian Development Bank (ADB) is nearing the approval of a substantial loan package for the Laguna Lakeshore Road Network (LLRN) project, aimed at enhancing infrastructure and climate resilience in the Philippines.
According to Philippines News Agency, ADB Country Director for the Philippines, Pavit Ramachandran, confirmed that the project’s first phase is expected to receive board approval by the end of this year. “So in terms of a forward-looking program for this year, as I mentioned, we are looking to have the Laguna Lakeshore Road Network approved later this year,” Ramachandran stated. The initial tranche of the loan is projected at approximately USD 1.2 billion.
Additional funding for the project will include contributions from the Korean Exim Bank and the Asian Infrastructure Investment Bank (AIIB), which will provide around USD 188 million. The project, which was initially approved in 2021, includes a 37.5-kilometer primary road and a 12-kilometer viaduct from Lower Bicutan, Taguig, to Tunasan, Muntinlupa, and a 25.5-kilometer shoreline viaduct and embankment from Tunasan to Calamba, Laguna.
Phase 1 of the LLRN will focus on constructing connecting roads and interchanges in several key areas including Barangay Tunasan in Muntinlupa City, and San Pedro, Biñan, and Cabuyao in Laguna. A feasibility study for the second phase, which will extend from Binangonan, Rizal to Calamba, Laguna, is underway and expected to be completed by December 2024.
Furthermore, Ramachandran disclosed that the ADB is likely to approve an additional USD 500 million policy-based loan to bolster the country’s climate resilience efforts. This loan will support the Philippines’ comprehensive climate change action program, focusing primarily on climate resilience and adaptation. “Our Country Partnership Strategy is really very focused on supporting the Philippines in its efforts to intensify climate action and support,” he added.
Looking ahead, the ADB plans to support the MRT-4 project and other initiatives aimed at improving river basins in Luzon and Mindanao next year, marking a significant commitment to sustainable development in the region.