Manila: Senate Majority Leader Juan Miguel Zubiri announced that Hungary is set to finalize a USD33-million (about PHP1.9 billion) loan agreement with the Philippines. This agreement aims to establish water treatment and desalination facilities to improve access to clean water and enhance the country’s climate resilience.

According to Philippines News Agency, the announcement was made following the courtesy call of Hungarian National Assembly Speaker L¡szl³ K¶v©r on Senate President Vicente Sotto III at the Senate. During the meeting, both parties reaffirmed their commitment to deepen bilateral cooperation.

Zubiri, who also serves as president of the Philippines-Hungary Parliamentary Friendship Group, emphasized that the proposed project represents a significant partnership between Manila and Budapest. The focus is particularly on addressing water scarcity in coastal and rural communities.

L¡szl³ K¶v©r stated that discussions on the project have reached an advanced stage. He pointed out that Hungary’s expertise in water treatment and desalination can offer sustainable solutions for the Philippines. The loan project, worth USD33 million, will be allocated for water treatment, cleaning, and desalination. K¶v©r mentioned that they are close to signing the agreement and are awaiting the Philippines’ response to the latest draft.

Senate President Sotto expressed his support for the initiative, noting that it demonstrates Hungary’s commitment to aiding developing nations in climate adaptation and sustainable development. He highlighted the contrast between the two countries’ water resources and the potential benefits of the proposal.

Zubiri further noted that the project is an example of Hungary’s continued friendship and support for the Philippines, extending beyond humanitarian aid and educational programs. He emphasized that this initiative will not only benefit the Filipino people but also foster opportunities for collaboration in sustainability and economic development.