Dumaguete Airport Secures KOICA Funding

5 June 2018

The Government of the Philippines has secured funding for the construction of New Dumaguete Airport.

Finance Secretary Carlos G. Dominguez III said the US$100 million airport project would be financed by Korea International Cooperation Agency (KOICA).

The Korean government has increased its loan grant to the Philippines to $1 billion from the earlier commitment of $500 million made last year to support the infrastructure program Build, Build, Build of President Rodrigo R. Duterte.

The Loan grant which has a payment period of 40 years was signed yesterday in the presence of Duterte and South Korean President Moon Jae-in at Seoul, South Korea.

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