DOTr taps int'l advisory group to improve PH aviation, railway projects

The Department of Transportation (DOTr) has tapped an international global development  institution for advisory services in the improvement of aviation and railway projects in the country.

DOTr Secretary Jaime Bautista said the International Finance Corporation will provide the DOTr transaction advisory services for the modernization and upgrading of several regional airports based on the agreement he signed by its Philippine manager Jean-Marc Arbogast.

“[The] designation of the IFC as transaction advisor is a significant step towards the early completion of selected projects in aviation and railways,” said Bautista.

In its website, the IFC said it is a member of the World Bank Group and a global development institution that focuses on connecting “economic development with humanitarian needs to create real progress for the people and places that need it most.”

Bautista said the agreement it signed with IFC will likewise strengthen the Light Rail Transit Line 2 (LRT-2) in terms of its rehabilitation, expansion and operations.

Aside from Bautista and Arbogast, also present werePPP Center Executive Director Ma. Cynthia Hernandez and IFC Regional Manager for PPP Advisory for Asia and the Pacific Thomas Lubeck.

Bautista said the private sector’s involvement in government program adds premium to each project, citing the case of the Clark International Airport (CRK), Mactan-Cebu International Airport (MCIA), and the LRT-1.

“We highly value partnering with private business in actualizing our transport projects,” he said.

“The collaborations with the private sector will enable the DOTr to extract maximum public benefits from the projects,” Bautista added.