PH Secures $905 Million Korean Loan for Laguna Lakeshore Road Project

The Philippine government has secured a $905.26 million official development assistance (ODA) loan from the Export-Import Bank of Korea (KEXIM) to fund the first phase of the Laguna Lakeshore Road Network (LLRN) Project.

Flagship Project Under Build Better More

The LLRN Phase 1 Stage 1 is a flagship initiative under President Ferdinand Marcos Jr.’s Build Better More infrastructure program. The project involves constructing a 7.94-kilometer road along the shoreline of Laguna Lake, which will include:

• 6.81 kilometers of viaduct/bridge
• 1.13 kilometers of embankment
• Three interchanges
• 1.92 kilometers of slip roads

Construction is set to begin in fiscal year 2025, with completion targeted for 2029.

Loan Agreement Ceremony

A ceremonial exchange of the loan agreement was held on January 17, 2025, at the Department of Finance (DOF) office in Manila. Key attendees included:

• Um Sung-Yong, Executive Director, KEXIM
• Manuel Bonoan, Public Works Secretary
• Kim Beom-Seok, First Vice Minister, Korea’s Ministry of Economy and Finance
• Joven Balbosa, DOF Undersecretary

Economic and Regional Impact

The LLRN project aims to enhance economic productivity and promote development in the Calabarzon Region and the broader National Capital Region (NCR).

Once completed, the road network is expected to improve transportation efficiency, reduce travel time, and boost the area’s economic activity.