South Korea to Finance $56.6M for Engineering services of Panay-Guimaras-Negros Island Bridge Project

SOUTH KOREA TO FINANCE $56.6M FOR ENGINEERING SERVICES OF PANAY-GUIMARAS-NEGROS ISLAND BRIDGES PROJECT

The Government of the Republic of Korea has extended $56.6 Million in loans to the Government of the Philippines for engineering services needed for the Panay-Guimaras-Negros (PGN) Island Bridges Project. 

A ceremonial exchange of signed loan agreement for engineering services of PGN Island Bridges which will be implemented by the Department of Public Works and Highways (DPWH) was held on Wednesday, May 4, 2022 between Department of Finance (DOF) Secretary Carlos Dominguez III and Export Import Bank of Korea (KEXIM) Executive Director  and Economic Development Cooperation Fund (EDCF) Vice President Taesoo Kim. 

This loan will support swift implementation of the much-anticipated mega bridge project to link the provinces of Iloilo, Guimaras and Negros Occidental that will spur many development opportunities for the Filipinos, said Secretary Mercado. 

The start of engineering services for the 32-kilometer Panay-Guimaras-Negros Island Bridge, a long-time dream for the people of Western Visayas, manifest the Philippine government’s commitment for the goal of “Build, Build, Build” to modernize the country’s infrastructure backbone by continuously supporting the rolling out of flagship projects towards the next administration, said Undersecretary Sadain. 

Scope of engineering services are preliminary design covering review of the feasibility study and preliminary and basic design; detailed engineering design including estimation of detailed construction cost; and procurement assistance. 

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