Philippines and Korea Eximbank sign loan for Panguil Bay Bridge

The Philippines has signed a deal with the Export-Import Bank of Korea - Korea Eximbank – US$100 million loan. The 40-year loan will finance the Panguil Bay Bridge Project in Northern Mindanao. According to a report in Business World, the project requires a total investment of around $103.6 million. Panguil Bay is the narrow and shallow body of water between Lanao del Norte and Misamis Occidental. At its narrowest it is around 2km across. Considered a major infrastructure development in Northern Mindana
May 9, 2016 Read time: 1 min
The Philippines has signed a deal with the Export-Import Bank of Korea - Korea Eximbank – US$100 million loan. The 40-year loan will finance the Panguil Bay Bridge Project in Northern Mindanao.

According to a report in Business World, the project requires a total investment of around $103.6 million.

Panguil Bay is the narrow and shallow body of water between Lanao del Norte and Misamis Occidental. At its narrowest it is around 2km across.

Considered a major infrastructure development in Northern Mindanao, the Panguil Bay Bridge will connect Tangub City, Misamis Occidental and Tubod City, Lanao del Norte and reduce travel time between Tangub and Tubod from the usual 2.5 hours to just 7 minutes.
Finance & Funding

Related Content

  • US$1.14 billion funding package for Philippines bridge project
    June 5, 2024
    A US$1.14 billion funding package has been secured for a key Philippines bridge project.
    Read More
  • Serbia’s pan-European Corridor X is in the slow lane
    October 23, 2017
    It’s been slow progress on Serbia’s Corridor X project. Gordon Feller reports. Back in the early 2000’s, the European Union undertook an ambitious programme to link the main cities of its south-eastern region. This involved connecting five key seaports – the Greek cities of Patras, Igoumenitsa, Piraeus and Thessaloniki as well as Romania’s Black Sea city of Constanta. Initially the plan involved two motorways across Greece. The first was a new 780km route including a branch to Ormenio on Greece’s north-eas
    Read More
  • Moldova gets EBRD loan for M1, M2 upgrades
    August 28, 2023
    The work will enhance transport connectivity by strengthening core transport links with a focus on the pan-European TEN-T network.
    Read More
  • Latin America invests in infrastructure growth
    February 15, 2012
    Travelling in one of the world's most diverse regions is not always easy, but spectacular engineering feats will make life easier as Patrick Smith reports. Five years ago a report from the World Bank noted that infrastructure in most of Latin America and the Caribbean (LAC) had improved over the previous ten years.
    Read More

Highlighted Content