Swedish gov't extends P74-M grant for Luzon Economic Corridor, Philippines

[Starmix]

According to the report, the Swedish government has extended a 12 million Swedish krona (around PHP74 million) grant for the Luzon Economic Corridor’s (LEC) flagship Subic-Clark-Manila-Batangas (SCMB) railway project.

The report also stated that the Office of Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), in a press release on Wednesday, said the agreement was signed between the Government of Sweden, through Swedfund International, and the Department of Transportation (DOTr), and the document for the grant was presented at the Malacañang Palace on Wednesday.

The report also said that Swedfund’s grant will fund a feasibility study on signaling systems and operational models for the SCMB railway - the anchor infrastructure initiative of the LEC that will connect the major ports of Subic, Manila, and Batangas, strengthening logistics and trade across Luzon,” it said.

It said the Manila-based “Asian Development Bank will oversee procurement of the consultant for the main feasibility study.” SAPIEA Secretary Frederick Go and Swedish Ambassador to the Philippines Anna Ferry led the group during the presentation.

In addition to the report, they were joined by Sweden’s Ministry of Foreign Affairs Department Head for Asia, the Pacific, and Latin America, Daniel Wolvén, Sweden’s Trade Commissioner to the Philippines, Johan Lennefalk, DOTr officials led by Acting Secretary Giovanni Lopez, and representatives from the Department of Finance and the Department of Foreign Affairs.

“This partnership between the Philippines and Sweden advances the President’s vision of developing globally competitive logistics infrastructure that will drive investment and inclusive growth,” Go said in his keynote address during the event.

Source; PNA

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[gwolf666]

From my perspective, the extension of a 12 million Swedish krona grant from the Swedish government for the Subic-Clark-Manila-Batangas (SCMB) rail project represents an important strategic step in strengthening logistics infrastructure in Luzon. This funding, managed through Swedfund International and formalized through an agreement with the Department of Transportation, will enable a feasibility study focused on signaling systems and operating models, which are essential for the efficiency and safety of the railway. Oversight of the process by the Asian Development Bank ensures transparency and efficiency in the consultant selection. This project will not only improve connectivity between the major ports of Subic, Manila, and Batangas, strengthening trade and logistics in the region, but also reflects international collaboration that supports the Philippine government's vision of building competitive infrastructure and promoting inclusive growth.

 

[Starmix]

The Ph government is so thankful for the assistance from Sweden for the country's economic growth, hoping the money won't end up in the hands of the corrupt.