By Chino S. Leyco In partnership with the Philippine government and the Asian Infrastructure Investment Bank (AIIB), the World Bank (WB) announced yesterday that it also approved the funding for a project aiming to improve flood management in select drainage areas in Metro Manila. In a statement, the Washington-based multilateral institution said it will be providing $207.6 million worth of official development assistance (ODA) to fund Metro Manila’s proposed flood management project, which will be completed by 2024. The project will cost $500 million, of that amount the World Bank and AIIB will provide $207.6 million each, while the remaining balance of $84.79 billion is from the Philippine government. Flood events, particularly during the typhoon season from June to October, are a recurring problem in Metro Manila, causing inundation of roads, exacerbate traffic congestion, and destroy the lives, infrastructure and livelihood of people, especially the poor. Under the Metro Manila flood management project, 36 existing pumping stations will be modernized, 20 new ones will be constructed, and supporting infrastructure along critical waterways will be improved in key cities. Among the cities that will benefit from the project include Manila, Pasay, Taguig, Makati, Malabon, Mandaluyong, San Juan, Pasig, Valenzuela, Quezon City,… Read full this story
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