Beijing, May 22, 2024

AIIB Approves Financing for Bataan-Cavite Interlink Bridge Project in the Philippines

The Asian Infrastructure Investment Bank (AIIB) greenlights financing up to USD1.14 billion or equivalent for the construction of the Bataan-Cavite Interlink Bridge (BCIB) project in the Philippines. This marks a milestone support to the PH Marcos Administration’s Build Better More Program encouraging enhanced connectivity and promoting sustainable infrastructure development within the Greater Manila Area.

The BCIB project is structured following a multitranche approach, with the first tranche amounting to USD350 million. Spanning a distance of 32.15 kilometers, the BCIB project is poised to provide a strategic convergence between Regions III and IV-A fostering greater economic growth and improved tourism. With the support of AIIB, the project will not only reduce travel time from Mariveles, Bataan to Naic, Cavite from five hours to just 1.5 hours but will also promote greater ease in doing business by unlocking the potential of Bataan and Cavite in facilitating trade and serving as viable tourist destinations.

Aligned with AIIB’s thematic priorities of domestic connectivity, green infrastructure and technology-enabled solutions, the BCIB project embodies a commitment to sustainable development. By adapting to natural hazards, incorporating green building criteria and utilizing lower carbon concrete and asphalt, the project emphasizes environmental responsibility while ensuring long-term resilience.

Moreover, the BCIB will feature technology-enabled infrastructure, including energy-efficient street lights and climate resilient bridge alert systems, underscoring AIIB’s dedication to leveraging innovation for sustainable development outcomes.

“The approval of the AIIB loan for the Bataan-Cavite Interlink Bridge project signifies a significant step towards realizing our vision of fostering inclusive and sustainable growth within the Greater Manila Area,” said Rajat Misra, AIIB Acting Vice President, Investment Operations (Region 1). “By prioritizing climate-resilient infrastructure and leveraging technology, we aim to not only enhance connectivity but also contribute to the region’s economic development while mitigating and adapting to environmental impact.”

As the lead cofinancier, the Asian Development Bank (ADB) will collaborate with AIIB to finance the BCIB project, which is one of the key priority projects under the current administration's flagship infrastructure program. More information on the Bataan-Cavite Interlink Bridge project can be found here.


About AIIB

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 109 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

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