Three Department of Transportation projects’ funding request has been approved
The Project Development and Monitoring Facility, under the Public-Private Partnership Center, green lit the application funding for regional airports, upgrade of air traffic services-air navigation services, and expansion of Light Rail Line 2
International Finance Corp will provide advisory services for the regional airports
Three Department of Transportation (DOTr) projects’ funding request has been approved by the Project Development and Monitoring Facility (PDMF).
The projects involve upgrade of a number of regional airports, modernization of air traffic services–air navigation services, and expansion of the Light Rail Line 2.
The PDMF Committee part of the Public-Private Partnership (PPP) Center that oversees all PPP projects in the country green lit the request for funding of Transaction Advisory Services for the Unsolicited Proposals (USPs) during a special PDMF Committee meeting on October 27.
The International Finance Corporation, a member of the World Bank Group, will offer advisory services.
The USP for regional airports covers the upgrade, expansion, and management of the Bohol-Panglao, Laguindingan, and Bicol International airports.
Under the project, the private sector will provide financing, design, construction, upgrades, and operation of the airports.
PDMF will assist with due diligence, detailed USP review, IFC review, negotiations for the PPP contract, government approval, and the bid tender and PPP contract award phases.
The airport project aims to boost post-pandemic economic recovery, improve regional development, boost tourism, and promote green and connected airport concepts.
Air traffic services–air navigation services (ATS-ANS) project
The ATS-ANS project involves modernization and upgrade of ATS-ANS facilities of the Civil Aviation Authority of the Philippines in the process increasing the number of flights.
Under the project, the private sector will finance, design, construct, upgrade and operate air traffic and navigation services facilities for the country and international airspace managed by the Philippines.
The project will receive transaction advisory services that will cover a gap analysis, business cases, and consultation with stakeholders.
The LRT 2 rehabilitation project looks into expanding the line by three kilometers and three more stations in Metro Manila.
The private sector will finance, design, construct, commission, and operate the expanded LRT 2. Once complete, the project should reduce travel time, lower costs, ease traffic, provide safer travel options, and improve economic connections.
In addition, the rehabilitation will reduce pollution, make travel safer, raise land value, and provide better access to government services.
The approval of the PDMF support was led by the National Economic and Development Authority as the Committee Chair, with the Department of Finance as Vice Chair, and the Department of Budget and Management and PPP Center as committee members.