The Korean Embassy in Manila clarified on Friday that the suspension of a Korean feasibility study on a rural bridge project in the Philippines was unrelated to the PH government.
In a statement posted on their social media page, the embassy stated that the decision was only meant to help address the concerns raised by the Korean press, including the loan approval issues on the Korean side.
“The suspension of the feasibility study on the project in question was unrelated to the Philippine government,” it stated.
Earlier, the Department of Finance (DOF) said that the PBBM Rural Modular Bridge Project Loan was initially subject to funding by South Korea; however, the Department of Agrarian Reform (DAR) decided to stop the previous discussions last year due to scope misalignment and other key technical specifications.
