South Korea Grants the Philippines P2.96 Billion Loan for Panay-Guimaras-Negros Island Bridges Project
The infrastructure just keeps on coming. More good news comes out of the Department of Public Works and Highways (DPWH) today as the agency has just announced a new multi-billion-peso loan for the 32km Panay-Guimaras-Negros (PGN) Island Bridges Project.
The loan comes courtesy of the Republic of Korea and amounts to $56.6 million (over P2.96 billion). The sum is for the engineering services necessary to make the PGN Island Bridges Project a reality—preliminary design, a feasibility study, and estimation of detailed construction costs.
In a statement, DPWH undersecretary Emil Sadain said that the loan will support the “swift implementation” of the new mega project and that the start of engineering services for the new piece of infrastructure will start towards the next administration.
By the looks of it, the PGN Island Bridges Project might just be the tip of the iceberg when it comes to upcoming infrastructure. The DPWH has also announced that South Korea is providing assistance for other flagship projects like the Samar Pacific Coastal Road Project connecting the Pacific towns in Northern and Eastern Samar and Panguil Bay Bridge in Northern Mindanao.
This feels like it’s still a while off from completion, but it’s definitely something to look forward to. Anyone else excited to see this happen?
From: Top Gear Philippines