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The Philippine government and the Export-Import Bank of Korea-Economic Development Cooperation Fund (KEXIM-EDCF) formally signed yesterday the P4.89 billion loan agreement for the 4.19-kilometer Panguil Bay Bridge connecting the city of Tangub in Misamis Occidental and the municipality of Tubod in Lanao del Norte in Northern Mindanao.

The bridge project is considered a major infrastructure development in Northern Mindanao and will reduce travel time between Tangub and Tubod from the usual 2.5 hours to 7 minutes. It will also significantly improve the travel time from Cagayan de Oro and Iligan to the cities of Tangub, Ozamiz, Oroquieta, Dipolog, and Dapitan in Zamboanga de Norte.

Read more HERE.

photo by Department of Foreign Affairs

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