(UPDATE) THE government has secured a $905.26 million, or about P54 billion, from South Korea to finance the initial implementation of the Laguna Lakeshore Road Network (LLRN) project.
THE government has secured a $905.26 million, or about P54 billion, from South Korea to finance the initial implementation of the Laguna Lakeshore Road Network project.The LLRN, one of the government's flagship infrastructure projects, is designed to help decongest traffic in Metro Manila and the Calabarzon area.The official development assistance loan was granted by the Seoul government through the Export-Import Bank of Korea .
'The traffic decongestion program is one of the key strategic infrastructure programs of the department that is aligned with the 2023-2028 Philippine Development Plan and consistent with the President's 8-point socioeconomic agenda to reduce transport and logistics cost,' Bonoan said.The daily traffic gridlocks in Metro Manila, particularly on EDSA, are estimated to cost the government at least P3.5 billion in lost opportunities.
To Fund Laguna Lakeshore Road Project
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