The Government of South Korea (SK) has signed an agreement approving official development assistance (ODA) of up to USD3 billion till 2026 to finance infrastructure and road projects in the Philippines. Under the newly signed deal, infrastructure assistance to the Philippines has increased three-folds compared to the approved amount for the 2017- 2022 period. Additionally, the Government of SK also plans to increase its ODA for climate change and green projects by 2025.

Some of the key projects that will be financed under the ODA includes the 32.47-km-long Panay-Guimaras-Negros Island bridges as well as the road along the coastal areas of Mandaue, Consolacion, and Liloan in Cebu.