World Bank loan awaited for fiber backbone final phase

THE Department of Information and Communications Technology (DICT) said it hopes to obtain World Bank loans within three to four months to finance the remaining phases of the national fiber backbone project.

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“There are two loans for phases four and five (of the national fiber backbone). The one for Eastern Mindanao is already approved. There will be a second loan for Western Mindanao, the status of which is already approved by the (Philippine) Economic Development Committee,” Information and Communications Technology Secretary Henry Rhoel R. Aguda said on the sidelines of a recent forum.

The second loan is estimated at around $300 million, Mr. Aguda said, noting that the agency is now awaiting word from the World Bank on the loan.