MANILA, Philippines — The Asian Development Bank (ADB) has approved the $1.45 billion final tranche of its financing package for the Malolos-Clark Railway Project (MCRP) that will link the northern and southern provinces of Luzon to Metro Manila. In a statement, the ADB said the approved amount is the second and final tranche of its multi-tranche financing facility for the railway project.
It approved the first tranche of financing for the MCRP amounting to $1.3 billion in 2019.
The MCRP covers the 53.1-kilometer segment of the 163-km North-South Commuter Railway (NSCR), which is also being supported by the ADB through financing for the system’s…