Home » Ports/Terminals » PPA seeks P1B loan from Saudi Arabia

THE Philippine Ports Authority is negotiating with the government of Kingdom of Saudi Arabia (KSA) for a P1-billion financial aid for its ports development program.

The assistance will be in exchange for technology and technical training for Saudi nationals who are in the fields of port services, operations and management. The loan will be used for the improvement and rehabilitation of ports, especially in the Southern Region, including Zamboanga Port Expansion, Makar Wharf improvement in General Santos City and Cotabato New Port Development project.

PPA said it has already forwarded to the KSA government a list of its training programs and is waiting for feedback. It has also endorsed the matter to the Department of Foreign Affairs for backup and support. The agreement will be finalized next year during the 2nd Joint Committee Meeting between Philippines and KSA.

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