News Column

Philippines : WB funding for Clark Green City development tapped by BCDA

May 30, 2014

Clark Green City in Pampanga is expected as a smart, disaster-resilient metropolis and the state-run Bases Conversion and Development Authority plans to tap Word Bank for funds to realize the project. BCDA president and CEO said that Rachel Kyte, World Bank Group vice president and special envoy for Climate Change, is keen on supporting the development of Clark Green City.

BCDA president and chief executive officer Arnel Paciano Casanova said, We are very happy and excited to work with the World Bank to build the country s first smart, green and disaster-resilient metropolis .

In a latest meeting between World Bank and BCDA official tackled the likelihood of funding the development from the Climate Change Fund. Casanova apart from the funding aspect mentioned the Washington-based lender will assist BCDA in implementing innovative and sustainable green development. He said, World Bank will help the BCDA link with centers of excellence and institutions to learn the best practices in making Clark Green City disaster-resilient. Clark Green City, which covers 40,000 hectares that encompasses the Clark Freeport and Special Economic Zone, will be developed as a destination for investors. The ambitious vision of BCDA is that Clark Green City would produce almost a million jobs and P1.57 trillion in yearly revenues.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters