Philippine women hold hands as they walk through floodwaters. (Photo: AP/Aaron Favila)Manila (VNA) - The World Bank (WB) and the Asian InfrastructureInvestment Bank (AIIB) have approved a joint credit package worth 415.2 millionUSD for flood management in select drainage areas in the Philippine capital cityof Manila.
In a jointstatement, the two financial institutions said each will offer half of the sum(207.6 million USD) to assist the Metro Manila Flood Management Project, whichwill cost 500 million USD. The Philippine government will provide the remaining84.79 million USD.
Under theproject, Manila will upgrade 36 existing pumping stations, construct 20 newones, and improve infrastructure along critical waterways. Many of thecapital’s existing pumping stations were built about four decades ago.
Mark A. Villar, PhilippineSecretary of the Department of Public Works and Highways, said the project isan important step in the 25-year implementation of the Metro Manila FloodManagement Master Plan, which was designed to safely control floods in thenational capital region and surrounding areas.
Floods,particularly during the typhoon season from June to October, are a recurringproblem in Manila. They cause inundation of roads, traffic congestions, and damageto infrastructure and people’s livelihood.-VNA
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