Finance Sec. Ralph Recto —Edwin Bacasmas
MANILA, Philippines — The Philippines has secured funding for the development of a new Dumaguete City Airport in Negros Oriental, Finance Secretary Ralph Recto said on Wednesday.
At the Kapihan sa Manila Bay news forum, Recto said that the government and state-owned Export-Import Bank of Korea (KEXIM) forged a loan agreement for the P17.06 billion project.
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“The new airport will enhance our capacity to welcome a surge of tourists in the post-pandemic era. With the new Dumaguete airport, we anticipate accommodating up to 2.5 million passengers per year, up from just 800,000. From serving limited domestic flights, we can now open the door to international routes,” said Recto.
Meanwhile, in a statement, the DOF said that around P13 billion of the total project cost will be supported by the KEXIM.
The new Dumaguete City Airport project covers 197.55 hectares of land development in the Municipality of Bacong, Negros Oriental.
It is set to comply with domestic and international standards for operational safety and efficiency.
Aside from Dumaguete, the DOF said that the government is eyeing upgrading more regional airports nationwide to modernize every island in the archipelago.