JDV gets $2M grant from South Korea

FOR DAGUPAN BANGUS PROCESSING PLANT

The bangus processing plant project as envisioned by Dagupan City Mayor Benjamin Lim is still on, at least as far as Speaker Jose de Venecia is concerned.

The speaker recently announced that the South Korean government has assured him it will provide a $2 million grant for the establishment of a bangus (milkfish) processing plant.

He said the South Korean deputy foreign minister official had given him the assurance and the only thing left to do to formalize the aid program is the submission of the feasibility study of the project.

Mayor Lim had earlier accused Speaker de Venecia of attempting to sabotage the bangus processing plant project when President Gloria Arroyo failed to deliver on her pledge that the national government would partially finance the project.

President Gloria Arroyo promised to give P50 million but only P10 million was actually released to the city.

But Speaker de Venecia denied this and pointed to the absence of a feasibility study as the cause of the delay in firming up support for the project.

Mayor Lim batted for the establishment of the plant in order to maximize the financial and livelihood potential of the growing bangus production by tapping its export potential, generating employment for local constituents, and increasing revenues for and from lease of areas for fishpens. — EVA