Construction Frontline

China and Africa sign agreement on Davao-Samal Island bridge project

Seetao 2022-06-14 09:21
  • The Davao-Samal Island Bridge is 3.86 kilometers long, and is locally known as the Centennial Dream People's Livelihood Project
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On June 13, 2022, the Davao-Samal Island Bridge Project Framework Agreement and Loan Agreement Exchange Ceremony was held at the Philippine Ministry of Finance. Chinese Ambassador to the Philippines Huang Xilian, on behalf of China, exchanged the framework agreement and loan agreement with the Philippine Secretary of Finance Dominguez. The Deputy Minister of the Department of Public Works and Construction of the Philippines, Mr. Sardein, and the Minister Counselor of the Chinese Embassy in the Philippines, Mr. Yang Guoliang, attended the event. Li Qinxi, Deputy General Manager of the Sovereign Client Department (Concessional Loan Department) of the Export-Import Bank of China, attended the event via video.

The Davao-Samal Island Bridge is located in the Mindanao region and spans the Pakistan Strait. It is a sea-crossing bridge connecting Davao City, the third largest city in the Philippines, and Samal Island, an island garden. The bridge adopts a two-way four-lane design with a total length of 3.86 kilometers. The bridge is locally known as a "hundred-year dream" and a popular project. After completion, the bridge will open up the space barrier between the two places, optimize the way people travel, and further revitalize the economic resources and tourism potential of Samal Island. The project will also create thousands of jobs and help restore the local economy and improve people's livelihood. Keywords: One Belt One Road, One Belt One Road News, One Belt One Road Project

Ambassador Huang Xilian and Minister of Finance Dominguez signed a framework agreement on behalf of their respective governments, and the Export-Import Bank of China signed a loan agreement with the Ministry of Finance of the Philippines. The Chinese government will provide about US$350 million in concessional loans to the Philippine government for the implementation of the Davao-Samal Island Bridge project. Implementation of the project will begin in the first half of 2022, with a total design and construction period of approximately 60 months.Editor/XuNing