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Philippines
Wednesday, February 19, 2025

PH secures $905m loan for Laguna Lakeshore project

The government has secured a $905.26 million assistance loan  from the Republic of Korea through the Export-Import Bank of Korea (KEXIM) for the construction of the Laguna Lakeshore Road Network (LLRN) Project.

Pubic Works Secretary Manuel Bonoan said the loan, valued at more than P49 billion will support civil works implementation by the Department of Public Works and Highways (DPWH) of this flagship project under the Build Better More program of President Ferdinand Marcos Jr. which aims to enhance the country’s infrastructure, improve connectivity, and support economic growth.

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Bonoan said the importance of the LLRN Project in enhancing connectivity and economic opportunities, particularly in the Luzon economic corridor, a vital region for national growth and regional integration. The DPWH said the  road project on the shorelines of Laguna Lake will address severe traffic congestion in the area, including a portion of the South Luzon Expressway.

Phase I Stage 1 includes a 7.94-kilometer road, consisting of 6.81 kilometers of viaduct/bridge and 1.13 kilometers of embankment, along with three interchanges plus 1.92 kilometers of slip roads.

Civil works for the project will start this fiscal year 2025, with completion anticipated by 2029 and expected to enhance the economy in the Calabarzon region and the broader National Capital Region.

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