TAGBILARAN, , Philippines — The Regional Development Council-7 is asking the Department of Public Works and Highways to endorse to the Korean government their request for the funding of a feasibility study on the proposed multi-access friendship bridge that would link the provinces of Cebu and Bohol.
In yesterday’s Central Visayas RDC full council meeting at the Bohol Tropics Resort, Bohol Governor Erico Aumentado asked the endorsement and support from the RDC for the funding assistance of the project.
“I am happy to report to the RDC that one of our mega projects, the Bohol-Cebu multi-access friendship bridge now has the support of EDCF,” Aumentado told members of the RDC, which is headed by Cebu Governor Gwendolyn Garcia.
Aumentado said the Economic Development Cooperation Fund (EDCF) of Korea has already agreed to dole out $3 million for the needed feasibility study.
He said the endorsements from the Philippine government’s national agencies is a requirement for funding release. In the request for funding assistance, the proposed bridge project will have to be endorsed by the DPWH, the NEDA ICC technical board, the NEDA board and the Secretary of Foreign Affairs.
Aumentado said it is the DFA secretary will then endorse the request for funding to the Korean government through the Korean Embassy.
Aumentado said the bridge will hasten commerce and sharing of technology and exchange of power and water between Bohol and Cebu, if it will be implemented.
The bridge, which was conceptualized in 2006, is seen to cost at least P20 billion.
“Funding for the actual project implementation is not a problem. We can have it through BOT or a loan. But I prefer it done through a BOT,” Aumentado said, saying the national government will be the one to enter into a loan for a BOT agreement to make funds available for the project. — Garry B. Lao/BRP (THE FREEMAN)