Manila Cebu Tacloban Ormoc Real Estate For Sale
September 30, 2014 - Philippine Economic Update
World Bank Approves Financing for Safe, Reliable and Affordable Transport in Metro Cebu - by The World Bank
The World Bank’s Board of Executive Directors approved a financing package for the Cebu Bus Rapid Transit (Cebu BRT) Project designed to demonstrate that BRT can provide the city’s residents with a more efficient, reliable, fast, safe and climate-friendly transport system.
This US$141 million financial package, consisting of loans from the World Bank (US$116 million) and the Clean Technology Fund or CTF (US$25 million), will help finance the construction of a 23-kilometer BRT system along a major transport corridor in Cebu City in central Philippines. The Philippine government will provide counterpart financing amounting to US$87.5 million.
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