Philippines, Korean bank sign loan pact for new airport in Bacong, Negros Oriental

CEBU, Philippines —A new and modernized airport will soon rise in Bacong, Negros Oriental to help address the increasing number of arrivals in the current Dumaguete City airport.

The Department of Finance (DOF) and Export-Import Bank of Korea (KEXIM) signed on Wednesday an agreement that will fund the new international airport.

According to information from the Dumaguete government website, the total project cost of the new airport is at P17.06 billion. KEXIM will cover P13.15 billion, while the remaining amount will come from DOTr.

(DOF) Secretary Ralph Recto and KEXIM chair and President Hee-Sung Yoon signed the loan agreement with Department of Transportation (DOTr) Sec. Jaime Bautista as witness.

“Today we are able to identify the needed funding source for the transfer and construction of a bigger Dumaguete Airport to a new location,” Sec. Bautista said during the signing ceremony.

“This new and expanded airport will address the increasing number of air traffic to and from Dumaguete,” Sec. Bautista added.

The new airport project will cover 197.55 hectares of land in the municipality of Bacong.

With KEXIM’s loan assistance, the new airport will have a brand new runway, taxiway, passenger and cargo terminal buildings, control tower and various aeronautical facilities.

It would support the increase of passenger capacity of the current airport from 800,000 to 2 million passengers annually.

Sec. Recto said the new Dumaguete Airport will enhance regional connectivity and support air travel in Western Visayas.

“On a broader scale, this new airport will advance our capacity to welcome a surge of tourists in the post-pandemic era,” the finance chief said. (CEBU NEWS)