The World Bank (WB) and the Asian Infrastructure Investment Bank (AIIB) have approved a joint credit package worth 415.2 million USD for flood management in select drainage areas in the Philippine capital city of Manila.

Philippine women hold hands as they ​walk through floodwaters. (Photo: AP/Aaron Favila)

In a joint statement, the two financial institutions said each will offer half of the sum (207.6 million USD) to assist the Metro Manila Flood Management Project, which will cost 500 million USD. The Philippine government will provide the remaining 84.79 million USD.

Under the project, Manila will upgrade 36 existing pumping stations, construct 20 new ones, and improve infrastructure along critical waterways. Many of the capital’s existing pumping stations were built about four decades ago.

Mark A. Villar, Philippine Secretary of the Department of Public Works and Highways, said the project is an important step in the 25-year implementation of the Metro Manila Flood Management Master Plan, which was designed to safely control floods in the national capital region and surrounding areas.

Floods, particularly during the typhoon season from June to October, are a recurring problem in Manila. They cause inundation of roads, traffic congestions, and damage to infrastructure and people’s livelihood.

(Source: VNA)