World Bank extends delayed $300-million Metro Manila 'Big One' quake loan to 2028
The World Bank has extended the deadline for a $300-million earthquake resilience project in Metro Manila to May 2028. The project, aimed at preparing the city for a major seismic event, has faced significant delays due to administrative and design setbacks.
Why it matters
This project is critical for the disaster preparedness of a major metropolitan area, and the delays highlight ongoing challenges in infrastructure project management in the Philippines.
Manila Bulletin - World Bank extends delayed $300-million Metro Manila ‘Big One’ quake loan to 2028
World Bank extends delayed $300-million Metro Manila 'Big One' quake loan to 2028
The World Bank has given the Philippines another 17 months to complete a long-delayed project backed by a $300-million loan and aimed at protecting Metro Manila from a potentially devastating “The Big One” earthquake, after years of budget, administrative, as well as design approval setbacks pushed implementation about two years behind schedule.
In a restructuring paper disclosed last Friday, Oct. 1, seen by Manila Bulletin, the Washington-based multilateral lender extended the closing date of the Philippines Seismic Risk Reduction and Resilience Project to May 31, 2028, from Dec. 31, 2026, while also revising several project targets.
This is already the second extension for the project, whose original closing date was last June 30, 2026.
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