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Jun 5, 2018 @ 15:54

PH seeks Korea funding for Dumaguete airport, BIR e-filing


South Korea will be another solid financier for the Build, Build, Build program.

Finance Secretary Carlos Dominguez III sat down with Korea Deputy Prime Minister and Minister of Strategy and Finance Kim Dong Yeon to offer three projects for official development assistance (ODA).

Dominguez said he is eyeing to secure $191 million funding from South Korea to support three priority projects of the Duterte administration.

These are the $50 million Project Preparation Facility of the National Irrigation Administration, the $100 million financing for the New Dumaguete Airport Development Project, and the $41 million for the implementation of an Electronic Receipt, Invoice and Sales Reporting System to improve revenue-monitoring mechanisms.

“He (Kim) hopes we complete the tax reform program successfully. He understands the importance of the tax reform program to the sustainability of our economic emergence,” Dominguez said in a statement.

“I assured Deputy Prime Minister Kim our strict monitoring of the projects to make sure that none of the Korean taxpayers’ money is wasted and that all the ODA-supported projects will bring lasting benefits to the Filipino people,” he added.

Two or three more project proposals will be submitted for Korea’s consideration, Dominguez added. This will be charged against the $1-billion funding committed until 2022.

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