THE Philippines secured a $1-billion loan from the Asian Development Bank to finance a public transport project in Davao City.
“The project is set to transform the quality of Davao City’s public transport and support the city’s rapid economic growth with a low-carbon and climate-resilient bus system,” said ADB Senior Transport Specialist for Southeast Asia Shuji Kimura. The Green Climate Fund is providing a $50 million loan under the ACGF’s Green Recovery Program. Both facilities are administered by ADB.
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