Amid flood control project controversy
TACLOBAN CITY — The decision of the South Korean government to suspend its financial assistance to the Philippines could derail a major infrastructure project in Northern Samar seen as vital to the province’s economic growth and connectivity.
The P6.34-billion Samar Pacific Coastal Road Project Phase 2 (SPCRP 2) — which includes the construction of two major bridges and road improvements — was to be funded through the Export-Import Bank of Korea’s Economic Development Cooperation Fund (KEXIM-EDCF).
Under the plan, one 800-meter bridge would link Barangay Talisay to the Laoang town proper, while another 605-meter bridge would connect Barangay Calomotan in Laoang to Barangay Pangpang in Palapag. The project also covers the rehabilitation of the Catarman–Laoang road junction up to the Laoang–Palaag road junction.
A loan agreement for SPCRP 2 was formalized between the Philippine and South Korean governments on October 7 of last year during the visit of then-South Korean president Yoon Suk Yeol to the country.
South Korea earlier funded the first phase of the Samar Pacific Coastal Road Project, worth P1.2 billion, which was inaugurated by President Ferdinand Marcos Jr. on July 14, 2023. That project connected the island municipalities of Palapag, Catubig, and Laoang to the rest of Northern Samar, improving transport of goods and services and stimulating local trade.
However, the continuation of SPCRP 2 is now uncertain after South Korean President Lee Jae-myung ordered the suspension of over P28 billion in loans earlier secured by the Philippines under the EDCF program. The freeze reportedly stemmed from controversies surrounding alleged irregularities in flood control projects in the country.
The Department of Finance has denied that the Philippines officially requested the loan for SPCRP 2 from South Korea.
The Leyte Samar Daily Express has also sought comment from the provincial government of Northern Samar on the development but has yet to receive a statement.
Earlier this year, the provincial government hailed the expected South Korean financing for SPCRP 2, saying the project would drastically reduce travel time between the island town of Laoang and mainland Northern Samar, especially the provincial capital of Catarman. Officials also said the bridges and road upgrades would help spur economic activity by improving market access, tourism, and disaster response in the province.
JOEY A. GABIETA
