DAVAO CITY — The Department of Finance and the Asian Development Bank have signed a USD1-billion financing package to fund the Department of Transportation’s (DOTr) Davao Public Transport Modernization Project (DPTMP) on July 1.
No less than President Ferdinand R. Marcos Jr. and Vice President Sara Z. Duterte witnessed the signing of the landmark USD1-billion financing package consisting of three (3) loan agreements between the Department of Finance (DOF) and the Asian Development Bank (ADB), and its co-financing partners, on 01 July 2023, to fund the Department of Transportation’s (DOTr) Davao Public Transport Modernization Project (DPTMP).
The total cost of the project amounts to This P73.37-billion, transport Secretary Jaime Bautista said the project in a statement said the undertaking, which shall be shared by the national government, the local government of Davao City, and ADB.
Under the project, the DOTr will also launch the country’s biggest fleet electrification initiative, with nearly 400 electric buses to transport commuters once fully operational.
The project, according to Bautista, will propel the economic development of Davao Region.
Based on the plan. the DPTMP will feature the establishment of a high-quality bus-based public transportation system traversing across more than 100-kilometers of core routes and over 500-kilometers of feeder routes.
The project aims to transform Davao City’s public road transport system and introduce a new benchmark in public transport’s services, as well as provide a more comfortable, safe, reliable, and accessible commuting experience to the public.
As it is now, the public transport system has yet to be developed and many dilapidated public vehicles are still running the streets of the city.
President Marcos directed the DOTr to accomplish the project within the set timeline and ensure that it affects the least number of people and activities as possible.
“[The DOTr must] work together with the concerned agencies in addressing all the different concerns such as funding requirement, the traffic, those households that will be affected,” Marcos emphasized.
ADB President Masatsugu Asakawa, on the other hand, acknowledged that modern public transport is the bedrock of urban development as the project is the regional bank’s largest-ever road-based public transport project in the country.
The project, which is expected to service more than 800,000 passengers daily, includes the construction of three (3) terminals, five (5) depots, one (1) driving school, and around 1,000 bus stops.
An 18-meter articulated electric buses and regular diesel buses will likewise be utilized for the project, which is seen to start partial operations by the fourth quarter of 2024, and full operations in 2025.-Editha Z. Caduaya
