MANILA (Reuters): The Asian Development Bank has approved a US$1 billion loan to help one of Philippines' largest cities procure a fleet of more than 1,000 electric and Euro-5 standard diesel buses, in an important step towards modernising the country's ageing public transport system.
The loan will also fund the construction of about 1,000 bus stops, five bus depots and three bus terminals in the southern Davao city, including driver training for the new system, the ADB said in a statement.
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
