MANILA, Philippines — The Asian Development Bank (ADB) yesterday approved the $2.75 billion financing for the construction of the Malolos-Clark Railway, its largest funding deal for a single infrastructure project to date. It will cut the travel time between Manila and Clark International Airport to less than one hour compared with two to three hours by car or bus at present. Around a dozen contracts will be awarded both for ADB and JICA’s side of financing for the Malolos-Clark Railway. Under the financing provided by ADB, six contracts are now being bid out for the construction of the 53-kilometer railway, seven stations and depot. The Malolos-Clark Railway project will be carried out over five years, with partial operation slated for 2022 with all of its seven stations operational.

Source: Philippine Star May 23, 2019 16:00 UTC