Department of Finance Clarifies Funding Source for PHP28-B Rural Modular Bridge Project

The Department of Finance (DOF) clarified that the PHP28-billion Rural Modular Bridge Project is currently being pursued for financing through the Government of France not South Korea.

According to the DOF, it is part of the government’s standard process to explore various financing options from development partners for major infrastructure projects.

Initially, South Korea was considered as a potential financier. However, the Department of Agrarian Reform (DAR) decided last year to discontinue discussions after key technical details and project scope failed to align.

Following this, the government began engaging with other bilateral partners in late 2024 to ensure the project’s full implementation.

The DOF stressed that there is no existing loan agreement between the Philippines and South Korea for the bridge project.

Currently, the Philippines and France are in advanced negotiations to finalize both technical and financial terms to move forward with the project’s implementation.

Source | Radyo Pilipinas 

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