Tag: Infrastructure Loan
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Clarification on South Korea’s 700-Billion Won Loan for Bridge Project
Introduction The Department of Foreign Affairs (DFA) is set to clarify with the South Korean government the status of a significant infrastructure loan project amounting to 700 billion won, approximately PHP 28 billion, intended for bridge construction in the Philippines. This project has recently been ordered halted by South Korean President Lee Jae-Myung, raising concerns…
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Clarification on South Korea’s Infrastructure Loan to the Philippines
Introduction The Department of Foreign Affairs (DFA) of the Philippines is seeking clarification from South Korea regarding a significant infrastructure loan project worth 700 billion won, approximately P28 billion. This initiative was put on hold by President Lee Jae-Myung amidst ongoing concerns about its implications. Details of the Loan Agreement The infrastructure loan was originally…
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DFA to Clarify South Korea Loan for Bridge Project
Introduction The Department of Foreign Affairs (DFA) has announced its intention to seek clarification from South Korea regarding a halted infrastructure loan project valued at approximately 700 billion won, or about P28 billion. This decision follows an order from South Korean President Lee Jae-Myung to pause the project. Current Situation In a recent development, the…