The Philippines just made history in the books of this lender.
The Asian Development Bank (ADB) announced that it has approved a $2.75-billion loan for construction of 53.1- kilometer train line that will connect Malolos, Bulacan to Clark in Pampanga.
Once completed, the Malolos-Pampanga railway can accommodate 342,000 passengers daily and will cut travel time to less than hour from the current two to three hours.
Here comes the best part: this ADB loan is the biggest in the bank’s history.
“It will be ADB’s single largest infrastructure project financing ever, and from a development perspective, we are pleased this investment is taking place in ADB’s host country. The project, combined with other investments in light rail transit, metro rail transit, and subway systems, will bring back the culture of rail transport in Metro Manila,” said ADB president Takehiko Nakao.
The Malolos-Clark Railway will have seven stations — Blumentritt, Calumpit, Apalit, San Fernando, Angeles, Clark, and Clark International Airport.