Korea Eximbank Funds DOTr Projects

The Export-Import Bank of Korea's (KEXIM) support to fund several Department of Transportation (DOTr) infrastructure projects will create exponential socio-economic growth by developing the country’s transportation landscape.

The Philippines is KEXIM’s fourth largest recipient of EDCF from disaster response and climate change adaptation, transport, energy, and water sources. and communication projects with over $1.5 million in concession loans. I Photo: Eximbank

This as the DOTr and KEXIM on Thursday held a coordination meeting to discuss and assess current projects funded by the latter such as the new Dumaguete Airport Development Project, the Philippine Coast Guard’s (PCG) Maritime Safety Enhancement Project, New Cebu International Container Port Project, and the LRT-2 Cogeo Extension in Rizal.

According to Transportation Secretary Jaime Bautista, KEXIM’s assistance in the design and implementation of transport projects can derive the maximum benefits for commuters and passengers.

“We hope to agree on how best to move forward with such projects as the new Dumaguete airport, the new Cebu International Container Port, the extension of LRT 2 as well as the Pangasinan airport feasibility study and the maritime safety enhancement project,” said Secretary Bautista.

With KEXIM’s support, Filipinos are guaranteed of better passenger experience through airport, seaport, and railway projects, Secretary Bautista added.

The transport chief likewise assured KEXIM officials that the DOTr will closely monitor the project to its timely completion while urging to fund road transport projects. “We have come to believe our goals are achievable.

In the end, we keep our eye fixed on the goal which is to provide a better passenger experience at every mode of transport,” he said.

As the official export credit agency of South Korea, KEXIM has established its presence in 58 countries with a total of 503 projects through the Economic Development Cooperation Fund (EDCF).

The Philippines is KEXIM’s fourth largest recipient of EDCF from disaster response and climate change adaptation, transport, energy, and water sources. and communication projects with over $1.5 million in concession loans.

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