By Daryl John Esguerra | Philippine News Agency
President Ferdinand R. Marcos Jr. has directed the release of P145.56 billion for the Central Mindanao High Standard Highway project, aiming to accelerate infrastructure development and boost economic activity in the region.
The Department of Budget and Management (DBM) issued a Forward Obligation Authority (FOA), ensuring uninterrupted funding for the project from 2026 to 2034 and preventing delays in implementation.
Palace Press Officer Claire Castro said the project is expected to bring faster travel, stronger economic activity, and more opportunities, particularly in Mindanao.
The highway will enhance connectivity between Cagayan de Oro and Malaybalay, reducing travel time from approximately 6.5 hours to just 3.5 hours.
Budget Secretary Rolando Toledo said the directive underscores the administration’s push to fast-track high-impact infrastructure projects.
“Sa direktiba ng Pangulo na pabilisin ang infrastructure development, sinisiguro natin na hindi maaantala ang proyekto dahil sa kakulangan ng pondo,” Toledo said.
“With this FOA, garantisado ang tuloy-tuloy na financing hanggang matapos,” he added.
The project will be financed through loans from the Japan International Cooperation Agency (JICA) and the Asian Development Bank (ADB), along with government counterpart funding.
Officials stated that the highway is expected to lower transportation costs, improve the mobility of goods and services, and stimulate growth in key sectors such as agriculture, logistics, and tourism in Northern and Central Mindanao. (PNA)
