THE Department of Budget and Management (DBM) said it approved long-term funding across Presidential terms of P145.56 billion for the Central Mindanao High Standard Highway Construction Project.
“The move underscores the President’s push to fast-track high-impact infrastructure projects that directly improve mobility, strengthen regional economies, and create more opportunities for Filipinos, especially in Mindanao,” the DBM said in a statement on Monday.
The DBM said the Forward Obligational Authority it issued ensures sustained financing for the project between 2026 and 2034.
The project is expected to enhance connectivity between Cagayan de Oro and Malaybalay, Bukidnon by cutting travel time from 6.5 hours to 3.5 hours.
“This means faster travel, lower transport costs, and more efficient movement of goods — benefits that will directly impact commuters, farmers, businesses, and local communities,” it said.
According to the DBM, the highway will seek financing from the Japan International Cooperation Agency and the Asian Development Bank on top of the government’s counterpart funding. — Justine Irish D. Tabile
