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The Philippine government has secured financial backing from the Republic of Korea to construct a road network along the shoreline of Laguna Lake. The Export-Import Bank of Korea will provide a $905.26 million official development assistance loan for the Laguna Lakeshore Road Network Project Phase 1 Stage 1, the Department of Public Works and Highways announced on Saturday.
The event was attended by KEXIM Executive Director Um Sung-Yong, Public Works Secretary Manuel Bonoan, Korea’s Ministry of Economy and Finance First Vice Minister Kim Beom-Seok, and DOF Undersecretary Joven Balbosa.The project’s Phase 1 Stage 1 will span a 7.94-kilometer road, including 6.81 kilometers of viaduct/bridge, 1.13 kilometers of embankment, three interchanges, and 1.92 kilometers of slip roads.Civil works are scheduled to begin in fiscal year 2025, with completion targeted for 2029.
Laguna Lakeshore Road Network Project Department Of Public Works And Highways Official Development Assistance ODA Loans
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