South Korean aid funds PGMA's P2.5-B Samar pacific coastal road project
Tacloban City (February 15) -- President Gloria Macapagal-Arroyo's Samar Pacific Coastal Road project will be funded with South Korean aid in the amount of P2.5 Billion, RDC Chair and Calbayog City Mayor Mel Senen Sarmiento announced during the Regional Development Council of Eastern Visayas meeting held on February 13.
Mayor Sarmiento said that the said project is one of the two projects which were approved by the National Economic and Development Authority that would be funded with South Korean aid, even as the Arroyo government is pump priming the economy through infrastructure development in order to insulate the Filipinos especially the poor from the impact of the current global economic crisis.
Of the total P2.5 Billion project cost, about P1.6 billion will come from South Korea's EDCF and P900 million from the Philippine Government.
The Samar coastal road project which connects Northern Samar to Eastern Samar, is aimed at supporting development of potential agricultural lands and fishing grounds of the provinces of Northern Samar and Eastern Samar and easing the movement of goods and services.
The proposed road will stretch 108.4 kilometers and go through the towns of Laoang, Palapag, Mapanas, Gamay, and Lapinig in Northern Samar, and Arteche and San Policarpio in Eastern Samar.
Upon the instructions of President Arroyo, P500 million has been earmarked this year to continue work on the coastal road project, which has been fast-tracked starting last year to address areas that badly need good roads.
Although the road project is set for implementation from 2010 to 2013, the Department of Public Works and Highways has so far spent P287 million on it.
The other project approved by NEDA is the P3.5 Billion upgrading of the airport in Puerto Princesa City in Palawan. (PIA 8) [top]