Manila Bulletin
Agreement facilitating Davao City int'l airport rehabilitation signed
The Department of Transportation (DOTr) has partnered with the International Finance Corp. (IFC) of the World Bank Group to modernize the Francisco Bangoy International Airport, also known as Davao International Airport.
A Transaction Advisory Service Agreement (TASA) was signed on October 10 to expedite the airport's development through a Public-Private Partnership (PPP).
Transportation Secretary Jaime Bautista aims to replicate the success of the Ninoy Aquino International Airport (NAIA) PPP for the Davao airport.
The PPP process for the DVO is expected to be completed within 13 months.
IFC Regional Manager Thomas Lubeck expressed confidence in leveraging their experience to enhance the airport for both the government and its users.
Mindanao Development Authority Chairman Secretary Leo Tereso A. Magno stated that the modernization will improve the airport's ability to boost tourism and access international markets.
Davao International Airport Authority Manager Engr. Rex Obcena highlighted that the airport's modernization embodies the hopes of Davaoeños and Mindanao's people.
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