P18-billion Davao Bypass Road loan agreement signed
DAVAO CITY, June 17 (PIA)- The P18-billion loan agreement for the Davao Bypass Road was signed yesterday (June 16) by Department of Finance Secretary Carlos Dominguez and Japan International Cooperation Agency (JICA) Country Representative Eigo Azukizawa at the DoF office in Manila.
The Davao Bypass Road project is part of the P75-billion loan package availed by the country from the Japanese government, the other project is the Cebu Mactan Fourth Bridge and the Coastal Road Construction Project which costs around P57-billion.
The 45.5- kilometer road project already was the recipient of a P9.27 billion JICA loan in 2015. The P18-billion supplemental loan aims to support the construction of the Davao Bypass Road which aims to improve accessibility to main infrastructure facilities and mitigate congestion in Davao city.
The 4-lane bypass road which will include the construction of the main tunnel is tagged as a high-impact infrastructure project under the Build, Build, Build program. Construction is expected to start this year and will be finished in 2023.
The JICA funded project will connect Barangay Sirawan in Toril District to Barangay J.P. Laurel in Panabo City, Davao del Norte and will cut travel time between these two points to less than 50 minutes from the current one hour and 44 minutes.
This is the second big-ticket bypass road project in Davao City after the under construction P26-billion Davao City Coastal Road. Both roads are expected to address the worsening traffic in the Davao City proper.
The bypass road together with the other Build, Build, Build infrastructure projects is seen as a means for recovery, fueling the country’s economic rebound after the COVID-pandemic.(PIA/RG Alama)