The Department of Foreign Affairs (DFA) said on Thursday it will seek clarification from the South Korean government regarding a reported 700 billion won (P28.8 billion) loan for a Philippine bridge project that was allegedly halted by a South Korean official.
The DFA said it took note of a Facebook post by South Korean President Lee Jae-Myung, who announced that he had ordered an “immediate halt” to the proceedings for the project due to corruption and mismanagement concerns.
“The Department of Foreign Affairs will continue to speak with the Embassy of the Republic of Korea with a view to clarifying matters,” the DFA said in a statement.
The department added that it is working with the Department of Finance (DOF), which has already stated that there is no existing loan application with South Korea for the project.
The DOF said the P28 billion Rural Modular Bridge Project is being proposed for financing by the government of France, not South Korea. The project, which aims to construct steel modular bridges in 350 far-flung areas across the Philippines, was initially considered for South Korean funding.
However, the Department of Agrarian Reform (DAR) halted previous discussions last year due to “non-alignment on scope and other key technical specifications.”
