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Manila Bulletin devider Philippines devider National devider Philippines secures P905.26-M Korean loan for Laguna road project

Philippines secures P905.26-M Korean loan for Laguna road project

Published Jan 18, 2025 07:35 am

The Philippine government has secured a P905.26-million loan that will finance a road project along the shorelines of the country’s largest freshwater lake, the Department of Public Works and Highways (DPWH) said on Saturday, Jan. 18.

Finance Undersecretary Joven Z. Balbosa and Export-Import Bank of Korea (KEXIM) Executive Director Um Sung-Yong recently finalized the official development assistance (ODA) loan agreement for the Laguna Lakeshore Road Network (LLRN), Project Phase 1 Stage 1, which is part of the Marcos administration’s infrastructure flagship projects.

The 7.94-kilometer road project will feature a 6.81-kilometer viaduct, a 1.13-kilometer embankment, three interchanges, and 1.92 kilometers of slip roads, designed to alleviate traffic congestion and provide a safer, more efficient route for commuters.

DPWH Senior Undersecretary Emil K. Sadain said the project will offer a faster alternative to the South Luzon Expressway, easing congestion and improving travel times.

"The LLRN Project is expected to drive regional tourism, stimulate economic growth, and create opportunities for businesses in Metro Manila, Laguna, Rizal, Cavite, and Batangas," Sadain said.

Construction is scheduled to begin in 2025, with completion expected in 2029. The DPWH will oversee the project, with Korean experts ensuring adherence to international construction standards.

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