The Framework Agreement and Loan Agreement for Davao-Samar Sea-crossing Bridge Project in the Philippines Signed

Date: 06/21/2022

On June 13, the Framework Agreement and Loan Agreement Exchange Ceremony for Davao-Samar Sea-crossing Bridge Project in the Philippines undertaken by CRBC was held at the Ministry of Finance of the Philippines.

Chinese Ambassador to the Philippines Huang Xilian exchanged Framework Agreement and Loan Agreement with Philippine Finance Secretary Dominguez on behalf of China. Deputy Minister of the Department of Public Works of the Philippines Sardein and Minister Counselor of the Chinese Embassy in the Philippines Yang Guoliang attended the event. Vice General Manager Li Qinxi of the Sovereign Client Department (Concessionary Loan Department) of the Export-Import Bank of China participated in the event via video.

The Davao-Samar Bridge connects Davao City, the third largest city in the Philippines, and Samal Island, an island garden. The main bridge structure is a double-tower double-cable plane low-tower cable-stayed bridge with a two-way four-lane design. The total length of the Bridge is 3.86 kilometers, among which the total length of the sea-crossing bridge is 1.62 kilometers.

The Bridge is locally known as a "hundred-year dream" and a popular project. After the Bridge is completed, it will greatly promote the exchanges between the two sides of the Pakistan Strait, further revitalize the economic resources and tourism potential of Samal Island, and contribute to the development of the local economic cycle and improvement of people's livelihood.

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