Funding worth $2.43 billion is being secured in the Philippines for the Central Mindanao High Standard Highway Construction Project. This has been delivered through the country’s Department of Budget and Management (DBM). Loans for the project are being sourced from the Asian Development Bank and the Japan International Cooperation Agency. The Philippines Government will also provide counterpart funding.
The 65km Central Mindanao High Standard Highway Construction Project (CMHSHCP) will provide a new and more direct route between the two cities. Once the highway is complete, it will cut journey times between Malaybalay and Cagayan de Oro to just 3.5 hours, as well as boosting capacity and transport safety on the route and delivering economic growth through industry and tourism expansion for the Northern and Central Mindanao area.
Meanwhile, the new bypass in Mabalacat City is now open to drivers. The project was completed in just two months. The project had been delayed by six years due to legal difficulties. It will help reduce congestion and cut travel times for drivers.
