Panglao airport upgrade among five major Philippine infrastructure projects to get World Bank assistance
The International Finance Corp. (IFC), the private-sector arm of the World Bank Group, will provide transaction advisory services to the Philippine government for five major public-private partnership (PPP) infrastructure projects worth a total of P62 billion pesos.
The projects include the P14.7-billion-peso rehabilitation of the Iloilo International Airport, the P12.8-billion-peso upgrade of the Laguindingan International Airport, the P4.5-billion-peso upgrade of the Bohol Panglao International Airport, the P27-billion-peso Air Traffic Services-Air Navigation Services (ATS-ANS) project, and the P3-billion-peso rehabilitation of the Manila Light Rail Transit (LRT) Line 2.
IFC will provide assistance through the Philippine government’s Project Development and Monitoring Facility (PDMF), a revolving fund that aims to develop a robust pipeline of viable and well-prepared PPP projects and enhance the investment environment for private sector participation.
PPP Center confirmed the IFC’s involvement in the five projects, which are expected to be financed by private sector money.
The assistance is seen as a boost to the Philippine government’s efforts to improve the country’s infrastructure and attract more private sector investment.
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