ADB approves $123-M loan for EDSA Greenways Project

The Philippines has scored another loan for its infrastructure program, this time a $123-million loan from the Asian Development Bank (ADB) to build elevated walkways for pedestrians along EDSA, the country's busiest highway.

In an emailed statement, the ADB said it has approved the loan for the EDSA Greenways Project which will cover 5 kilometers of covered walkways linked to mass transit stations along EDSA in Balintawak, Cubao, Guadalupe, and Taft stations.

The structures will be 5 meters wide, equipped with elevators and monitoring systems, and will accessible for the elderly, pregnant, young children, and persons with disabilities.

"The EDSA Greenways Project is an integral part of the government’s transport strategy to make Metro Manila a better place to live, work, and visit," said ADB Southeast Asia transport and communications director Hiroaki Yamaguchi.

"This project is an important part of our contribution to helping make that vision a reality for Filipinos,"  added Yamaguchi.

Data from the Metro Manila Development Authority (MMDA) show that an average daily traffic of 405,882 vehicles passed through EDSA in 2019, up 6% from 383,828 the previous year.

The ADB said the project will also be supported by a $15-million loan from the Association of Southeast Asian Nations (ASEAN) Catalytic Green Finance Facility, which will also be administered by the multilateral lender.

Just last month, three private firms — SM Prime Holdings., D.M. Wenceslao and Associates Inc., and Double Dragon Properties Corp. — inked agreements with the government to shoulder the construction of EDSA Busway Bridges with concourses in select locations.

With the local economy now in a recession, economic managers are banking on the ambitious infrastructure program to boost the economy to return to pre-pandemic levels.—AOL, GMA News