President Ferdinand R. Marcos Jr. on Friday recognized the role of South Korea in the development of the Philippines, as evidenced by the increasing number of its funded projects in the country.
“To that end, I want to acknowledge our partners in the Korean government and the Korean EXIM Bank. Thank you very much. Your unwavering support has been instrumental in turning this dream into a reality,” President Marcos said during the inauguration of the PhP8.03 billion Panguil Bay Bridge Project.
“And before lest anyone think that this project between the Republic of Korea, the Economic Development Cooperation Fund and through Eximbank of Korea is an isolated project, I would just like to show everyone how many EDCF [of Korea] projects are ongoing in the Philippines,” he said.
According to the President, there are 21 ongoing South Korea-backed projects in the country with two more in the pipeline. He said some of them are the biggest projects in the Philippines as he stressed the depth of Korea’s involvement in the country.
“That is how involved and how much the Economic Development Cooperation Fund of Korea has been part of all our development programs and all our aspirations for making our people live in a much safer, much more efficient and much more helpful lifestyle,” the President pointed out.
The 3.16-kilometer bridge project launched by the President is part of the administration’s infrastructure flagship project (IFP). It is now the longest water-spanning bridge in Mindanao.
With its completion, the travel time between the Municipality of Tubod, Lanao del Norte and Tangub City, Misamis Occidental will be reduced from more than two hours to just seven minutes. It will benefit more than 10,000 travelers a day. |PND
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