The Asian Infrastructure Investment Bank (AIIB) has agreed to proceed with financing up to US$1.14 billion for the Bataan-Cavite Interlink Bridge (BCIB) project in the Philippines.

As the lead co-financier, the Asian Development Bank (ADB) will collaborate with AIIB to finance the construction of the bridge, a priority project under the “Build Better More” flagship infrastructure programme of President Ferdinand Marcos Jr’s administration.

The BCIB project adopts a multi-tranche structure, with the first tranche amounting to US$350 million. Spanning a distance of 32.15 kilometres, the road and bridge project seeks to provide is a strategic link between Central Luzon (Region III) and Calabarzon (Region IV-A) to foster greater economic growth and enhance tourism.

The project will reduce travel time from Mariveles, Bataan to Naic, Cavite from five hours to just 1.5 hours, thus promoting greater ease in doing business and unlocking the potential of Bataan and Cavite, including as tourist destinations.

According to AIIB, the project is aligned with its thematic priorities of domestic connectivity, green infrastructure and technology-enabled solutions. 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,” says 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.”