PBBM directs release of P145.56-B for Central Mindanao Highway: DBM greenlights funding to cut travel time, boost regional economy

Cagayan De Oro- Acting on the directive of President Ferdinand R. Marcos Jr. (PBBM) to accelerate infrastructure development nationwide, the Department of Budget and Management (DBM) has secured the release of P145.56 billion for the Central Mindanao High Standard Highway Construction Project—ensuring uninterrupted funding that will cut travel time nearly in half and unlock economic growth across the region.

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. With the FOA in place, the government commits sustained financing for the project from FY 2026 to 2034—removing uncertainty, preventing delays, and enabling implementing agencies to proceed with full confidence.

The Central Mindanao High Standard Highway will significantly enhance connectivity between Cagayan de Oro and Malaybalay, cutting travel time from 6.5 hours to just 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.

Beyond convenience, the project is expected to boost trade competitiveness, attract investments, and stimulate growth in key sectors such as agriculture, logistics, and tourism—unlocking new opportunities across Northern and Central Mindanao. The project is proposed to be financed through loan proceeds from the Japan International Cooperation Agency (JICA) and the Asian Development Bank (ADB), alongside the Philippine government’s counterpart funding. The Forward Obligational Authority (FOA), issued by DBM, serves as a firm commitment that funds will be made available to cover the total project cost—ensuring that major infrastructure projects are not only approved but fully funded through to completion.

DBM Secretary Rolando “Rolly” U. Toledo emphasized that the issuance of the FOA translates the President’s directive into real, felt impact on the ground.

“Sa direktiba ng Pangulo na pabilisin ang infrastructure development, sinisiguro natin na hindi maaantala ang proyekto dahil sa kakulangan ng pondo. With this FOA, garantisado ang tuloy-tuloy na financing hanggang matapos—para mas mabilis maramdaman ng mga Pilipino, lalo na sa Mindanao, ang benepisyo ng mas maayos, mas mabilis, at mas ligtas na biyahe,” Secretary Toledo said.

“This is not just about building a road—it is about connecting communities, shortening the distance between opportunities, and making everyday life easier for our kababayans,” he added.