The first tranche of a loan to bankroll the construction of the P175-billion Bataan-Cavite Interlink Bridge is targeted to be approved come the third quarter of this year, according to the Asian Development Bank.
The Manila-based multilateral lender is co-financing the project with the Asian Infrastructure Investment Bank .
The first tranche of the loan facility at $1 billion $650 million under ADB and $350 million under AIIB) is targeted to be “approved in the third quarter of this year.” The ADB official said the loan may have a maturity period of “somewhere between 25 and 43 years… including a three-year grace period.”
The 32.15-kilometer, four-lane inter-island bridge will connect Barangay Alas-asin in Mariveles, Bataan, and Barangay Timalan Concepcion in Naic, Cavite.
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