MANILA — President Ferdinand R. Marcos Jr. has moved to accelerate infrastructure development in Southern Philippines by ordering the release of PHP145.56 billion for the Central Mindanao High Standard Highway Project, a move expected to halve travel times and catalyze regional economic growth.
The funding, secured through a Forward Obligation Authority (FOA) issued by the Department of Budget and Management (DBM), ensures a steady stream of financing for the massive undertaking from fiscal year 2026 through 2034.
The project is set to be a game-changer for Mindanao’s logistics and transportation network. According to Palace Press Officer and Presidential Communications Office (PCO) Undersecretary Claire Castro, the highway will significantly reduce travel time between Cagayan de Oro and Malaybalay from the current seven hours to just 3.5 hours.
“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,” Castro said during a press briefing at Villamor Air Base on Monday.
The ambitious highway project is supported by international development partners, funded through loans from the Japan International Cooperation Agency (JICA) and the Asian Development Bank (ADB), alongside counterpart funding from the Philippine government.
DBM Secretary Rolando Toledo noted that the President’s directive is part of a broader mandate to ensure that the nation’s infrastructure “Golden Age” remains on track without fiscal interruptions.
“Sa mas mabilis na transportasyon, mas maayos na dadaloy ang serbisyo, mas ramdam ng taumbayan ang progreso,” Castro added, emphasizing the administration’s goal of bringing tangible progress to the grassroots level.| PCO
