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Cangrejo said he was informed by Daewoo that the 'peak' for the JRMP construction will be from 2020 to 2022.
With the JRMP II, Drilon said the declining agricultural productivity will be addressed.
JRMP II includes the construction of 109-meter Jalaur high dam, 38.5-meter afterbay dam, 10-meter Alibunan catch dam, 80.74-kilometer high line canal; generation of new areas for irrigation; and rehabilitation of existing irrigation system.
Drilon said he believes JRMP II will be a "game-changer." It is to be funded through an P8.95-billion official development assistance (ODA) from Korean government's EXIM bank and the government's counterpart fund of P2.2-billion.
Drilon emphasized that the interest rate for JRMP II is the lowest the country can get at 0.15 percent compared to the loans being offered by China, which is three percent interest rate.
The Jalaur River Multipurpose Project Phase II (JRMP II), funded by a $260-million (P11.212-billion) loan from South Korea, involves the construction of three dams (109-meter Jalaur high dam, 38.5-meter Afterbay dam and 10-meter Alibutan catch dam), a 6.6-megawatt hydro-power plant and an 81-kilometer high-line canal at Jalaur River.
Meanwhile, the ICC-Cabcom approved loan validity for Jalaur River Multi-Purpose Project (JRMP) Stage Two to March 28, 2022, from May 28, 2018.
Drilon said that legal impediments to Jalaur River Multipurpose Project (JRMP) II had been removed after Quezon City Regional Trial Court (RTC) upheld the bidding conducted by the National Irrigation
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