MULTILATERAL lender World Bank is pouring in $64.6 million for the first line of the planned Metro Manila bus rapid transit (BRT) system, which it will co-fund with the Philippine government.
Mar 172017
MULTILATERAL lender World Bank is pouring in $64.6 million for the first line of the planned Metro Manila bus rapid transit (BRT) system, which it will co-fund with the Philippine government.
A Bus Rapid Transit (BRT) and a Metro Manila flood control project will be the first projects to be presented to the Asian Infrastructure Investment Bank (AIIB) once the Philippines confirms its membership in the Beijing-backed lender.
URBAN transportation networks in the Philippines will benefit from millions of dollars in investment, following the announcement that Cebu City will be home to a new bus rapid transit (BRT) system. The network is expected to alleviate metro congestion and offer opportunities for private contractors and service providers. It is one of several urban mass transit projects under way, following President Benigno S. C. Aquino III’s earlier announcement of plans for new BRT and underground rail systems in Manila.