The Asian Development Bank (ADB) is offering a $300-million (approximately P18,835 billion) loan for the first tranche of the long-delayed MRT Line 4.
The loan forms part of ADB’s $1 billion financing commitment for MRT-4.
The first tranche will supplement the $200 million from the Asian Infrastructure Investment Bank (AIIB).
Together, the ADB and AIIB financing will provide $500 million for the first tranche.
The MRT-4 project was first proposed in 2015. It faced multiple delays over the years. The project was re-approved by the then-National Economic and Development Authority, now Department of Development, in December 2019.
MRT-4 will be a 13-kilometer elevated railway with ten stations connecting the Ortigas Central Business District to Taytay, Rizal. It aims to serve the eastern side of Metro Manila and highly populated areas of Rizal while providing an integrated connection to existing and planned mass-transit systems.
The project will address persistent congestion along Ortigas Avenue, which links Rizal to the densely populated areas and business districts of Metro Manila.
ADB said the project is needed as “substantial underinvestment” in transport infrastructure while the country is heavily dependent on roads, with 98% of passenger transport and 55% of freight transport carried by road.
ADB added that congestion along the Ortigas Avenue corridor has continued to worsen amid limited public transport options and Rizal’s growing population.
Rizal had a population density of 2,439 people per square kilometer, making it the most densely populated province outside Metro Manila.
MRT-4 is expected to cut travel time between Taytay and Ortigas to less than 30 minutes while improving transport connectivity and supporting inclusive growth, strategic urban development, and private investment along the corridor.
