The “Build Build Build” program of the Philippine government has put into place 100 projects, where the majority would be enforced by the Department of Public Works and Highways. The aim of the agency through their projects is to ease traffic congestion and connect as many regions as possible within the Philippines. As of April 30, 2019, there were three ongoing infrastructure projects (1104226) managed by the DPWH.
One of the ongoing infrastructure constructions is the Intramuros-Binondo bridge project that is forecasted to complete its upgrade and improvement by 2021. A grant-aided project financed by the People’s Republic of China, the construction is a bilateral cooperation between China and the Philippines.
Sustaining construction development requires capital. In 2019, the value of outstanding loans granted by universal and commercial banks for construction in the Philippines was about 339.1 billion Philippine pesos. The fixed capital formation of the construction sector accounted for about 9.7 percent of Philippine GDP expenditure as of the fourth quarter of 2019.