Government Supports 56 Grant and Loan Aid Projects Including Construction of Philippine Sea Bridge

The government has decided to support the sustainable development of developing countries by identifying demand for linked concessional and grant aid projects, such as the construction of the Pangil Bay Sea Bridge in the Philippines.

The inter-ministerial EDCF (Economic Development Cooperation Fund) Project Review Committee held a meeting at the Government Seoul Office on the 19th to discuss plans for linking concessional and grant aid projects, the Ministry of Economy and Finance announced.

At the meeting attended by 10 ministries including the Ministry of Economy and Finance, which oversees concessional aid, and the Ministry of Foreign Affairs, which oversees grant aid, as well as six aid implementing agencies including the Export-Import Bank, 56 new candidate projects for linked concessional and grant aid were selected.

The Pangil Bay Sea Bridge construction project in the Philippines was selected as a candidate project. The EDCF will provide concessional aid to build the sea bridge, while the Ministry of Land, Infrastructure and Transport will provide grant aid to establish a smart integrated maintenance management system.

A linked project to supply clean domestic water in Ghana was also selected. The EDCF will construct water intake and purification facilities, and the Ministry of Economy and Finance will provide grant aid through the Knowledge Sharing Program (KSP) by offering policies for the introduction and improvement of water resource management systems free of charge.

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