President Bongbong Marcos has approved the release of P145.56 billion for the Central Mindanao High Standard Highway Construction Project, aimed at cutting travel time between Cagayan de Oro City and Malaybalay City in Bukidnon and improving connectivity across Northern and Central Mindanao.
The Department of Budget and Management issued a Forward Obligational Authority to secure funding from 2026 to 2034, ensuring the project will not be delayed due to funding gaps.
The project spans about 64.7 kilometers of four-lane road. It includes 47 bridges, nine of which are long-span structures. The route will pass through Cagayan de Oro City and Tagoloan in Misamis Oriental, and key areas in Bukidnon including Manolo Fortich, Sumilao, Impasugong, and Malaybalay.
Officials said the highway will reduce travel time from 6.5 hours to 3.5 hours, lowering transport costs and improving the movement of goods and people. “Garantisado ang tuloy-tuloy na financing hanggang matapos,” Budget Secretary Rolando Toledo said.
For the public, the impact is direct. Shorter travel time means faster trips for commuters and lower transport costs. It helps farmers and businesses move goods more efficiently and improves access to markets across Mindanao. The improved road is also expected to support economic activity in sectors such as agriculture, logistics, and tourism, based on government projections tied to the project.
The project will be financed through loan proceeds from the Japan International Cooperation Agency and the Asian Development Bank, alongside counterpart funding from the Philippine government. It was earlier approved by the Economy and Development Council chaired by the President.
The release of funds follows the administration’s directive to accelerate infrastructure development and support regional economic activity.
