Expansion of Bohol-Panglao International Airport Underway
Expansion of the New Bohol Airport (or the Bohol-Panglao International Airport), commonly known as the Philippines’ first truly environment-friendly airport, is now underway following the signing of a supplemental loan agreement by the Department of Finance (DOF) and the Japan International Cooperation Agency (JICA).
Finance Secretary Carlos Dominguez III and JICA Chief Representative Yoshio Wada signed the supplemental loan agreement last Monday, formally exchanging documents for the Phase II of the New Bohol Airport Construction and Sustainable Environmental Protection Project in Panglao Island.
Dominguez said that the supplemental agreement provides a ¥4.376 billion loan to the Philippines for Phase II of the project, involving the expansion of the runway and passenger terminal building.
The initial loan of ¥10.782 billion (or ₱5.18 billion) was signed in 2013.
Dominguez adds that the supplemental loan agreement will make sure that the project “is compliant with domestic and international standards for operational safety and efficiency,”
Also ensuring that even if a large facility was installed in a small island, “great care was taken to protect the environment.”
Fast-tracked Approvals
Dominguez also explains that the Philippine Government took a “fast and sure” approach for this project tie-up, as it went through all the approval processes within four months.
“The NEDA Board approved this supplemental loan on June 19, 2018. Today, we are signing the Loan Agreement. Under government conditions, this is amazing speed,” he said.
Dominguez explains that the Bohol Airport project, whose construction started in June 2015, is expected to have its ceremonial opening in November.
“I look forward to this becoming the benchmark of efficiency for the other projects in the pipeline. If we act with the same dispatch on all public projects, I am confident we will sustain the pace of growth we need to bring the benefits of inclusive growth to our people,” he added.
Construction of airports is among the priority projects of the Duterte administration under its “Build, Build, Build” program.
via Philippine News Agency / Joann Villanueva
