Metro Manila (CNN Philippines, March 13) — The water shortage in the eastern part of Metro Manila calls for the faster rollout and construction of the China-funded Kaliwa Dam project as a new water source for the metropolis, Finance Secretary Carlos "Sonny" Dominguez said Wednesday.

"Absolutely. In fact, have this been done before, the water crisis would be much less serious or much less of a threat," he said in a media briefing.

The Kaliwa Dam in Infanta, Quezon is one of the projects under the New Centennial Water Source Project (NCWSP) to provide an alternative water source for Metro Manila.

The ₱18.7-billion project will be funded through an official development assistance from China, according to the Metropolitan Waterworks and Sewerage System.

In November, China pledged around P12 billion for the project through loans with low interest rates.