KEXIM keen on funding Marcos admin infra projects, says DPWH

The Department of Public Works and Highways (DPWH) said Saturday the Korea Eximbank (KEXIM) has expressed interest in funding new pipeline of infrastructure projects under the Marcos administration’s “Build Better More” initiative.

In a statement, the DPWH said KEXIM Manila Representative Office -- the implementing agency of the Korean Government’s Economic Development Cooperation Fund (EDCF) Official Development Assistance (ODA) program in the Philippines -- is “keen on levelling up funding support to infrastructure development priorities of the DPWH.”

The agency said that during the meeting with Public Works Secretary Manuel Bonoan and DPWH Senior Undersecretary Emil Sadain, KEXIM-EDCF Country Director and Chief Representative Jaejeong Moon expressed interest in supporting DPWH pipeline new projects.

Likewise, the DPWH said that 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.”

Moreover, it said that the EDCF provides assistance to DPWH-implemented flood control, roads and bridges and flood control projects managed by the Unified Project Management Office (UPMO).

According to Sadain, in-charge of ODA-funded projects, three ongoing EDCF projects include Samar Pacific Coastal Road Project in Northern Samar, Panguil Bay Bridge Project in Northern Mindanao, and Integrated Disaster Risk Reduction and Climate Change Adaptation Measures in the Low-Lying Areas of Pampanga in Central Luzon.

Early this year, the Philippine government also secured loan from South Korea to cover funds for the engineering services of the Panay-Guimaras-Negros Island Bridges Project, an inter-island bridges project that will entails the construction of two sea-crossing, four-lane bridges totaling 32.47 kilometers -- including connecting roads and interchanges -- to connect the islands of Panay, Guimaras, and Negros in Western Visayas, added Sadain.

Also, the DPWH said the EDCF provided a grant for the recently completed feasibility study of the Samar Pacific Coastal Road Project Phase II, which aims to construct two bridges namely, Laoang 2 Bridge (360 meters), and Calomotan Bridge (630 meters), 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.

The DPWH said that it is looking forward to the approval of the submitted final feasibility study report to National Economic and Development Authority (NEDA) Board and the subsequent endorsement of the project to KEXIM for funding of the detailed engineering design and civil works for the construction.

Other Korea-funded ODA feasibility studies discussed during the meeting include Philippines-Korea Project Preparation Facility for Lubao-Guagua-Sasmuan-Minalin-Santo Tomas Bypass Road (30 km), Mount Kitanglad Range Belt Road (108 km), Capas-Botolan Road (38.4km), and Lubao-Guagua-Sasmuan-Minalin-Santo Tomas Bypass Rd., Section 4: Minalin (Bulac)-Sasmuan Viaduct (7 km); Maasin City Coastal Bypass Road; Iconic Bohol-Leyte Bridge Project; and Integrated Flood Management Master Plan of Lower Pampanga River Basin covering Pampanga Delta Development Project Phase II and Central Luzon-Pampanga River Floodway Flood Control Project. —LBG, GMA News