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France now being eyed to fund P28-B bridge project following failed talks with South Korea
Business World Philippines
|September 11, 2025
THE FINANCE DEPARTMENT is now seeking France's help to fund a P28-billion project to build hundreds of rural bridges in the Philippines that was initially proposed to South Korea.
"The Department of Finance (DoF) has clarified that the P28-billion Rural Modular Bridge Project is currently being proposed for financing by the Government of France, not South Korea," it said in a statement on Wednesday.
"In this case, the project was initially considered for funding through South Korea, but the Department of Agrarian Reform (DAR) decided to halt previous discussions last year due to nonalignment on scope and other key technical specifications."
The clarification came after South Korea’s President Lee Jae Myung on Tuesday said in a Facebook post that he ordered the suspension of the proposed 700-billion Korean won loan to the Philippines due to concerns over corruption.
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