Baggerwerken Decloedt En Zoon (BDZ), the giant Belgian dredging company that bagged the P18.7-billion Laguna Lake rehabilitation project, welcomed yesterday the Begian embassy’s confirmation that the project enjoys a guarantee from Brussels through its export credit facility. In a letter dated June 10, 2010, Ambassador Christian Meerschman told former Environment Secretary Horacio C. Ramos that “BNPP-Fortis is making available on ONDD-covered export credit facility the funding for the Laguna Lake rehabilitation project.” Meerschman’s letter stated that “the ONDD or Office National du Ducroire is the Belgian Public Export Agency. The ONDD was founded in 1921 by the Belgian State and is acting as an autonomous government institution enjoying Belgian State Guarantee.”

Firm chosen for Laguna Lake rehab project hails guarantee. (2010, September 24). The Philippine Star, p. B-11.