PBBM directs DBM to release PhP145.56B for Central Mindanao Highway to boost travel, economy

President Ferdinand R. Marcos Jr. has ordered the Department of Budget and Management (DBM) to release PhP145.56 billion for the Central Mindanao High Standard Highway Project, aiming to accelerate land travel and stimulate economic growth.

“Mas mabilis na biyahe, mas malakas na ekonomiya at mas maraming oportunidad ang aasahan ng ating mga kababayan, lalo na sa Mindanao. Ito’y matapos ipag-utos ni Pangulong Ferdinand R. Marcos Jr. sa Department of Budget and Management ang pagre-release ng PhP145.56 billion na pondo para sa Central Mindanao High Standard Highway,” Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro said.

During a press briefing at the Villamor Air Base in Pasay City on Monday, Castro said President Marcos had earlier ordered the expediting of infrastructure projects in the country for the benefit of the Filipino people.

Through the issuance of a Forward Obligation Authority (FOA) by the DBM, the government has ensured continuity of financing for the said infrastructure project in Mindanao from fiscal year 2026 up to 2034, Castro said.

According to DBM Secretary Rolando Toledo, President Marcos’ directive to expedite the infrastructure development of the Philippines and ensure that no project will be delayed due to lack of budget is clear.

Castro said the Central Mindanao High Standard Highway Project was funded through a loan from the Japan International Cooperation Agency (JICA) and the Asian Development Bank (ADB), with counterpart funding from the Philippine government.

The Palace Press Officer said the highway project is expected to have a significant positive effect, as it would speed up land travel between Cagayan de Oro and Malaybalay, cutting travel time from almost 7 hours to just 3.5 hours.

“Sa mas mabilis na transportasyon, mas maayos na dadaloy ang serbisyo, mas ramdam ng taumbayan ang progreso,” Castro said. | PND