THE Department of Transportation (DoTr) said Thursday that it submitted a recommendation to the National Economic and Development Authority (NEDA) Board to seek an extension to the validity of a World Bank (WB) loan for the Cebu Bus Rapid Transit (BRT) project beyond June 30.
“Submitted na ‘yun… Don’t worry about that… Kung sinasabi namin na may partial operability, ina-assume namin na ma-askyunan ‘yan, ‘yang mga approvals na kailangan sa NEDA, at ‘yung mga loan arrangement na kinakailangan sa World Bank (The recommendation has been submitted… if we assure partial operations we assume we will receive favorable consideration from NEDA to seek a new arrangement with the World Bank),” Transportation Secretary Arthur P. Tugade said at a virtual briefing.
According to the WB website, the loan for the Cebu BRT project was approved on Sept. 26, 2014. The validity of the loan runs until June 30.
The WB said the committed amount for the project is $116.00 million, while the total project cost is $228.50 million.
The DoTr serves as the borrower and the implementing agency for the project.
Mr. Tugade wants to achieve partial operability before the end of 2021 and full operations by 2023.
Once completed, the Cebu BRT “will be fielding 250 buses with at least 21 stations,” according to a statement posted on the DoTr’s website.
The Cebu BRT is expected to serve around 60,000 passengers per day. — Arjay L. Balinbin