DPWH: Korea offers to fund new infrastructure projects in PH

enablePagination: false
maxItemsPerPage: 10
totalITemsFound:
maxPaginationLinks: 10
maxPossiblePages:
startIndex:
endIndex:

Metro Manila (CNN Philippines, August 13) — The Department of Public Works and Highways (DPWH) on Saturday said the South Korean government has expressed interest in funding new infrastructure and development projects of the Marcos administration.

"The Korea Eximbank (KEXIM) Manila Representative Office, implementing agency of the Korean government's Economic Development Cooperation Fund (EDCF) Official Development Assistance (ODA) program in the Philippines, is keen on leveling up funding support to infrastructure development priorities of the DPWH," the department said in a statement.

"The Korean government intends to further increase the EDCF concessional loan assistance to the Philippines to fund development projects under the President Ferdinand Romualdez Marcos Jr. administration," it added.

The meeting between the two sides--held on Friday at the DPWH central office--was led by DPWH Secretary Manuel Bonoan and KEXIM-EDCF Country Director and Chief Representative Jaejeong Moon.

The department said the EDCF provides assistance to DPWH-implemented flood control, roads and bridges, and flood control projects managed by the Unified Project Management Office.

There are three ongoing EDCF projects in Northern Samar, Northern Mindanao, and in Central Luzon, according to the DPWH.