ADB's loan for airports<\/p>\n
MANILA (AFP): The Asian Development Bank (ADB) said Tuesday
\nthat it had approved a US$93 million loan to upgrade six airports
\nin the southern Philippines.<\/p>\n
The loan will improve the airports of the municipalities of
\nPuerto Princesa, Cotabato, Sanga-Sanga, Dipolog, Butuan and
\nPagadian with an emphasis on safety improvements, the ADB said in
\na statement from its headquarters in Manila.<\/p>\n
It will include upgrading and extending runways, improving air
\nnavigation and safety facilities, expanding cargo facilities,
\nconstructing new passenger terminals, rehabilitating existing
\nfacilities and providing new equipment.<\/p>\n
The total cost of the project is $167 million with the
\nEuropean Investment Bank expected to provide co-financing of $29
\nmillion, the ADB said.<\/p>\n
The project is intended to support the government's peace
\ninitiatives with armed Moslem groups as well as boost a
\nPhilippine scheme to integrate the economies of the southern
\nPhilippines with nearby areas of Brunei, Indonesia and Malaysia.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/adbs-loan-for-airports-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}