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Manila Bulletin devider Philippines devider Luzon devider Agreement facilitating Davao City int'l airport rehabilitation signed

Agreement facilitating Davao City int'l airport rehabilitation signed

Published Oct 11, 2024 02:26 pm

DAVAO CITY – The Department of Transportation and the International Finance Corp. on Thursday, October 10, formally signed the Transaction Advisory Services Agreement to facilitate the rehabilitation and modernization of the Francisco Bangoy International Airport here.

DAVAO AIRPORT REHABILITATION.jpeg

A NEW LOOK  Francisco Bangoy International Airport, also known as Davao City International Airport, is forthcoming as officials have signed the agreement for its modernization. (MinDA FB)

Mindanao Development Authority Chairman Secretary Leo Tereso A. Magno said the agreement is a significant advancement for Davao region and Mindanao. 

He said MinDA is proud to be part of such a landmark agreement.

“Our main objective is to elevate Davao International Airport’s facilities to a level that reflects the aspirations we have long held for Mindanao,” Magno said.

Magno said that modernization will improve the airport’s ability to boost tourism and access international markets. 

Davao International Airport Authority Manager Engr. Rex Obcena said the agreement highlights the DOTr’s dedication to providing the long-anticipated improvements to the airport through the public-private partnership program.

“The Davao International Airport is vital to the region’s economy. Its modernization embodies the hopes of Davaoeños and Mindanao's people,” Obcena said.

Thomas Lubeck, regional manager for the IFC PPP Transaction Advisory Services, is enthusiastic about the project. 

He said their role is to support the DOTr in bringing in private sector expertise, technology, and management to enhance airport services for Davao and Mindanao. 

DOTr Secretary Jaime Bautista said the TASA is a significant milestone in the modernization of Francisco Bangoy International Airport and is part of a broader initiative that includes the development of other regional airports under the solicited PPP scheme.

Bautista said they anticipate the airport will significantly boost the region’s growth by enhancing efficiency and connectivity. He added that similar efforts are underway for Laguindingan Airport in Cagayan de Oro and other strategic airports across Mindanao.

The agreement, in collaboration with the World Bank International Finance Corp., aims to accelerate airport development, improve regional mobility, and drive economic growth in Davao region and across Mindanao. 

Related Tags

Department of Transportation (DOTr) Davao City Davao City International Airport Francisco Bangoy International Airport
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