By EDU LOPEZ
MANILA, Philippines — The government is set to implement the second phase of the
P11.2 billion Jalaur River irrigation project in Iloilo, the largest Korea Economic Development Cooperation Fund (EDCF)-supported project.
“The Jalaur River Multipurpose Project Phase II is one of the first batch of projects and biggest of the three irrigation projects approved by the NEDA board this year,†said NEDA Deputy Director General Rolando Tungpalan.
“It is a groundbreaking venture in terms of scale and importance in facilitating the increase in food production and ensuring food security in the country,†said Tungpalan who led the meeting and signing of the minutes of discussion (MOD) with officials of the Export-Import Bank of Korea (Korea EximBank).
Out of the project’s total approved cost of P11.21 billion, a proposed P8.95 billion will be financed through an official development assistance (ODA) loan from the EDCF.
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