The expressway will boost regional connectivity, decrease travel time between Manila and Laguna province, and enhance the competitiveness of the Philippine economy, one of Southeast Asia’s fastest-growing markets, the ADB said in a statement.
“This investment further cements ADB’s commitment to help transform transport infrastructure in the Philippines by facilitating climate- and disaster-resilient and sustainable development,” said Pavit Ramachandran, ADB Country Director for the Philippines.
“The project will help link people to jobs and business opportunities, reduce transport costs and traffic congestion, and improve the efficiency of the overall transport network in Metro Manila and nearby regions,” said Ramachandran.
Under the Laguna Lakeshore Road Network (LLRN) Project, ADB will finance a 29.56-kilometer section of the new expressway, which includes bridges and viaducts spanning the waterways feeding into Laguna Lake.
This expressway aims to reduce peak-hour travel between Taguig City and Calamba City by 25 percent.
Additionally, a 7.89-kilometer northern section will receive $904.35 million in funding from the Export–Import Bank of Korea under a parallel financing scheme.
ADB’s support includes a $1.2-billion first tranche and a $509.5 million second tranche loan, complemented by a $188.2-million co-financing loan from the Asian Infrastructure Investment Bank.
It also covers a climate financing of $35.6 million that will support the construction of elevated viaducts and armored embankments for enhanced resilience.
The LLRN project aligns with the Philippine government's Luzon Economic Corridor initiatives, enhancing connectivity to international trade hubs. It’s part of ADB’s broader mission to bolster climate-resilient infrastructure, advancing the nation’s adaptation plans.
