Multilateral lender Asian Development Bank on Wednesday said it has approved $1.45 billion as the second and final tranche of its multitranche financing facility for the Malolos-Clark Railway Project which seeks to connect Clark with Metro Manila and Calamba, Laguna.
In a statement, ADB cited the need for the MCRP, as it said it will continue to assist in the implementation of the project and provide livelihood support for vulnerable communities via technical assistance after the $1.3-billion first tranche of the financing facility for the project which it approved in 2019 has been fully utilized.
“The Malolos-Clark Railway Project is one of ADB’s biggest project financing in the…