DPWH Eyes This Country’s Financing to Fund Its Projects
The Department of Public Works and Highways (DPWH) already has an ongoing agreement with our fellow Asian nations to finance green and infrastructure projects—all the way to 2026.
Did you know that, as of 2022, the Philippines has a total road network of 205,045.97 kilometers? These include national, provincial, city, municipal, and even barangay roads that can be found all over the country. But beyond that, the Department of Public Works and Highways (DPWH) is looking to add to the country’s total road network.
And it is eyeing funding from South Korea in order to accomplish it.
“The agency is studying the possibility of accessing South Korea’s economic development promotion facility (EDPF) to deliver projects in Central Luzon and Central Visayas,” notes a Philippine Star report. “The facility is [also] a new form of official development assistance designed to cover the financial gap in big-ticket infrastructure.”
Philippine Star likewise notes that a delegation from South Korea—particularly from the Export-Import Bank of Korea (KEXIM), has already visited the agency to discuss how the country could tap the EDPF.
Financing for Four DPWH Projects
The DPWH is aiming to use the EDPF to fund four projects in particular—the first of which is the completion of the 28.82-kilometer Lubao-Guagua-Sasmuan-Minalin-Santo Tomas bypass road, which is located in Pampanga. It is likewise considering using the financial scheme to fund the second segment of the Pampanga Integrated Disaster Risk Reduction and Climate Change Adaptation.
Aside from these, it may also be used to fund the detailed engineering design (DED) and construction of the Consolacion-Liloan Bypass Road in Cebu City. This bypass road is expected to be around 10.6 kilometers long.
Lastly, the EDPF is being considered by the agency to also fund the feasibility study for the Lapu-Lapu Coastal Road.
Why This is Good News for Business
Mobility plays a crucial role in the everyday life of Filipinos, and this is all the more true when it comes to businesses and industries. When mobility is not hampered, it allows for the on-time delivery of goods and services. It likewise allows the internal systems of companies to run efficiently and without delays.
With the DPWH’s plans to construct more and newer roads, mobility will certainly be improved, especially in the provinces. And given that the four aforementioned projects are all provincial, businesses in these locations will benefit once these projects are completed.