President Ferdinand Marcos Jr. witnessed the formal signing of the agreement between the government and the Asian Development Bank for the P73.3-billion Davao Public Transport Modernization Project in Davao City. | Frinston Lim/PDI
Of the total funding for the project, 60 percent will come from the ADB loan. The DOTr would shoulder 40 percent while the city government will chip in P1.5 billion.
At least 1,100 buses will be procured for the project, with about 400 units run by electricity and the rest comprising Euro-5 standard diesel buses. With the acquisition of hundreds of articulated e-buses, the Davao bus project will launch the Philippines’ biggest electrification initiative, the DOTr said.
Marcos assured the government will assist displaced jeepney drivers and their dependents and others who will be affected with financial and non-financial aid.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ADB approves $1-B loan for Davao City's public transportThe Asian Development Bank (ADB) approved a $1-billion loan to fund the deployment of an electric bus fleet in Davao City in support of the Philippines’ efforts in curtailing greenhouse gases and promoting climate action. | ManilaBulletin
Read more »
ADB OKs $1-B loan for Davao City public transport modernizationThe Asian Development Bank (ADB) on Thursday approved a $1-billion loan to finance the modernization of public transportation in Davao City, its largest road-based public transport project in the Philippines to date.
Read more »
Philippines, ADB sign $1 billion loan for Davao City public transport modernizationThe Philippine government and the Asian Development Bank (ADB) on Saturday signed a $1-billion loan agreement for the Davao Public Transport Modernization Project (DPTM).
Read more »
Davao City's shift to modern buses gets $1-billion funding from ADBThe Asian Development Bank's loan will also help support jeepney drivers and operators who may be adversely affected by Davao City's transport modernization
Read more »
Davao e-bus project gets $1-B ADB loanThe Davao Public Transport Modernization Project has secured a boost with the Asian Development Bank approving a $1-billion loan as support for low-carbon public transport in the Philippines. | RonWDomingoINQ /PDI
Read more »
In Davao del Sur, Marcos assures public his promises were not mere ‘campaign slogans’President Ferdinand Marcos Jr. thanked the people of Davao del Sur for the overwhelming number of votes he garnered there in the last elections and assured them that the promises he made at the height of the campaign were not “mere campaign slogans.”
Read more »