KEXIM will provide $905.26m in ODA to support civil works by DPWH. Credit: DPWH.

The Filipino government has secured a substantial loan from South Korea to fund the Laguna Lakeshore Road Network (LLRN) Project, Phase 1 Stage 1.

The Export-Import Bank of Korea (KEXIM) has agreed to provide $905.26m in official development assistance (ODA), which will facilitate the civil works to be carried out by the Philippines’ Department of Public Works and Highways (DPWH).

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DPWH secretary Manuel M Bonoan stated that the LLRN Project will boost connectivity and provide economic opportunities, especially in the Luzon economic corridor, which is seen as crucial for national and regional growth.

The project is designed to provide ‘safer’ travel, which is expected to stimulate tourism in the country’s National Capital Region, Laguna, Rizal, Cavite, and Batangas.

The initial phase of the project includes the construction of a 7.94km road, featuring 6.81km of viaduct and 1.13km of embankment, complemented by three interchanges and 1.92km of slip roads.

DPWH’s Unified Project Management Office – Roads Management Cluster II, led by project director Teresita V Bauzon, will spearhead the project’s implementation, with Korean experts providing construction supervision.

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Civil works for the LLRN Project are set to commence within 2025, with the aim of completing the project by 2029.

DPWH senior undersecretary Emil K Sadain said: “This transformative project marks a major milestone in our long-term vision to create a sustainable, resilient, and efficient road network that will benefit generations of Filipinos.”

Earlier this month, DPWH completed an 89.7m pesos ($1.5m) domestic road rehabilitation project in Tublay, Benguet, to improve road safety and accessibility in a landslide-prone area.