ADB provides advisory services for Clark Green City
Updated June 20, 2017 – 12:00am
http://www.philstar.com/
MANILA, Philippines – The Asian Development Bank (ADB) will be providing advisory services to the government for the development of the $14 billion Clark Green City (CGC), an urban center that will rise in Central Luzon.
“ADB, as BCDA’s mandated transaction advisor, will assist BCDA with the overall evaluation of the plan for the city and assist in running tender processes for suitable PPP projects to attract private sector participation.
The deal was signed between Ryuichi Kaga, head of ADB’s Office of Public-Private Partnership, and Vivencio Dizon, BCDA president and CEO.
CGC, with its strategic location, is among the priority projects of the administration in line with its goal of spurring economic growth and development in areas outside of Metro Manila.
The 9,450-hectare Clark Green City, which would house 1.2 million people, is envisioned to be the country’s first smart, green and disaster-resilient city.
According to its masterplan, it will have industrial, commercial and agricultural components as well as connective infrastructure to Metro Manila.
Jobs, industries and homes that will be created in the mixed use development are expected to lure people away from Metro Manila, thus decongesting the already densely-populated metropolis.
“Congestion in Manila is a major economic, social, environmental and development challenge for the Philippines. ADB is committed to helping the Philippine government develop a well-planned, smart, environmentally sustainable, livable city in Clark which would decongest and complement Manila,” Kaga said.
“ADB is looking forward to supporting BCDA and the Philippine government in planning, designing and developing a world class urban center for the Clark Green City and contribute to further the economic growth in the Philippines,” he said.
ADB said this will be its first transaction advisory service covering multiple sectors in the Philippines, including transport, waste management, gas distribution network, IT infrastructure, mixed income housing, national government center and food terminal of CGC.
