(Eagle News) – The Department of Finance (DOF) said the government will build eight major bridges to link the Visayas islands to Mindanao and Luzon.
The proposed bridge projects–with an estimated combined cost of P269.10 billion—-are an 18.2-kilometer bridge to connect Samar provinces to the main island of Luzon, a 20-kilometer bridge connecting Leyte to Mindanao Island through either an Underwater Tunnel Bridge or a Long-Span Overhead Bridge, the 5.7-kilometer Panay-Guimaras bridge, the 12.3-kilometer Guimaras-Negros inter-island linkages connecting these islands, the one-kilometer Bohol-Lapinig Island bridge, the 18.0- kilometer Lapinig Island-to-Leyte bridge, the 5.5-kilometer Cebu-Negros Link Bridge and the 24.5-kilometer Cebu-to-Bohol Link Bridge.
According to Finance Secretary Carlos Dominguez III, the bridges “will provide growth corridors and ensure that none of the major islands of the Visayas will be left behind in the country’s race to progress.”
He said they would be complemented with the construction of road networks “to further stimulate growth and create jobs outside Metro Manila,” and with “the four big-ticket projects in the Visayas under the ‘Build, Build, Build’ program already approved for implementation by the (National Economic Development Authority) Board.”
These approved projects include three airport improvement projects and the New Cebu International Container Port.
“Our infrastructure investments, estimated at US$170 billion between now and 2022, have very high multiplier effects. By undertaking these thoroughly studied strategic projects, we will stimulate economic activity. Jobs and opportunities will be created, and we are confident we can bring down poverty incidence to only 14 percent by 2022,” Dominguez said.
He said the massive projects will be supported by a comprehensive tax reform package; grants and concessional loans extended in the form of official development assistance (ODA) from the country’s allies in the region; and financing support from multilateral institutions such as the Asian Development Bank (ADB), World Bank (WB) and the Asian Infrastructure Investment Bank (AIIB).
“’The Build, Build, Build’ program is in full swing. We are continuing with our comprehensive tax reform program. Investment flows into our economy will continue to rise dramatically,” the finance chief said.