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The Asian Infrastructure Investment Bank said Friday it approved a loan of up to P64 billion for the construction of the Bataan-Cavite Interlink Bridge project in Manila Bay.
AIIB is a Beijing-based multilateral development bank whose mission is financing the infrastructure for tomorrow. Established in January 2016, it has since grown to 109 approved members worldwide. Spanning a distance of 32.15 kilometers, the BCIB project is poised to provide a strategic convergence between Regions III and IV-A fostering greater economic growth and improved tourism. With the support of AIIB, the project will not only reduce travel time from Mariveles, Bataan to Naic, Cavite from five hours to 1.5 hours but will also promote greater ease in doing business by unlocking the potential of Bataan and Cavite in facilitating trade and serving as viable tourist destinations.
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