Korea commits support to fund PH infra, dev’t projects

Published August 13, 2022, 3:16 PM

by Manila Bulletin

The Korean government has committed to increase the funding in the infrastructures and development projects in the Philippines.

DPWH Secretary Manuel M. Bonoan said officials of the Korean government’s Economic Development Cooperation Fund (EDCF), led by Deputy Director Yunhak Lee and Program Officer Ana Labella, expressed interest to support the DPWH’s new pipeline projects during a meeting held on Friday, Aug. 12, through its Korea Eximbank (KEXIM), the implementing agency of the EDCF’s Official Development Assistance (ODA) program in the Philippines.

The EDCF provides assistance to DPWH-implemented flood control, roads and bridges and flood control projects managed by the Unified Project Management Office (UPMO), including the three on-going projects funded by the EDCF in Northern Samar, Northern Mindanao, and in Central Luzon.

DPWH Senior Undersecretary Sadain, in-charge of ODA-funded projects said the Philippine government has also secured loan from South Korea to cover funds for the engineering services of the Panay-Guimaras-Negros Island Bridges Project, an interisland bridges project that will entails the construction of two sea-crossing, four (4)-lane bridges totaling 32.47 kilometers — including connecting roads and interchanges — to connect the islands of Panay, Guimaras and Negros in Western Visayas.

The EDCF also provided a grant for the recently completed feasibility study of the Samar Pacific Coastal Road Project Phase II, which aims to construct two (2) bridges namely Laoang 2 Bridge (360-meter) and Calomotan Bridge (630-meter) including the upgrading of about 12.5-kilometer existing road from Laoang-Palapag Road Junction to Catarman-Laoang Road Junction that will connect the island of Laoang to mainland Northern Samar.

Also present in the meeting from the DPWH were Senior Undersecretary Emil K. Sadain, UPMO Project Directors Ramon A. Arriola III, Sharif Madsmo H. Hasim, and Benjamin A. Bautista; UPMO Project Manager Teresita V. Bauzon. (Jun Marcos Tadios)

 
CLICK HERE TO SIGN-UP
 

YOU MAY ALSO LIKE

["national","news","news"]
[3062158,3098827,3098821,3098772,3098735,3098732,3098814]