ICC-IC approves fund restructuring for Samal-Davao bridge

Published on October 28, 2026 Author Web Editor TagsDepartment of Finance,Department of Public Works and Highways,DPWH,Frederick Go,Samal Island-Davao City Connector Project The Investment Coordination Committee-Cabinet Committee approved the restructuring of the ongoing Samal Island-Davao City Connector Project Project was endorsed to the Economic Development Council for final approval The P20.8 billion bridge is 90% funded through an official development assistance loan from China that was signed in 2021, but construction did not start until 2024 due to legal hurdles raised by some businesses and environmental groups Project was already about 61% complete as of June 2026, according to the Department of Public Works and Highways In July this year, DPWH Davao Region said they have sought additional funding releases from the national government to keep the project on track The Investment Coordination Committee-Cabinet Committee (ICC-CC) has approved the restructuring of the ongoing Samal Island-Davao City Connector (SIDC) Project.

Following the approval of the ICC, the project was endorsed on October 22 to the Economic Development Council, chaired by President Ferdinand Marcos Jr., for final approval, the Department of Finance said in a statement.

The P20.8 billion bridge project is 90% funded through an official development assistance loan from China that was signed in 2021 under the previous administration of President Rodrigo Duterte. Groundbreaking was held in October 2022 with incumbent President Ferdinand Marcos Jr. but actual construction did not start until 2024 due to legal hurdles raised by some businesses and environmental groups.

The loan terms include an interest rate of 2% per annum, payable in 20 years, inclusive of a seven-year grace period.

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