The Department of Agriculture expects to secure a P30-billion loan from the Hungarian government which it plans to use for the cleanup of the Laguna Lake as well as the establishment of the first-ever rubber manufacturing plant in the country. Agriculture Secretary Emmanuel Piñol will be in Hungary for an official business this weekend to finalize the 500-million euro (roughly P30.6 billion) loan earlier offered by the European country. Bulk of total loan or about P20 billion will be allocated for the cleanup of the Laguna Lake while the remaining amount will be invested for the rubber plant in Mindanao.

Simeon, L. M. (2017, September 21). Gov't finalizes P30-B Hungary loan for Laguna Lake cleanup, rubber mfg. The Philippine Star, p. B3.