Iloilo International Airport in Cabatuan, Philippines, is set to receive approximately PHP791m ($18.03m) to fund its expansion and repair works, before the country hosts the Asia Pacific Economic Cooperation (Apec) ministerial meetings in 2015.
The funding is a part of the PHP13.3bn ($305m) amount that has been proposed under the 2015 national budget. This amount has been kept aside by the department of transportation and communication for the speedy repair and rehabilitation of 13 airports across the country.
Go deeper with GlobalData
Senate president Franklin M Drilon said that the money allotted will be used to improve the airport facilities and enhance their services. The world summit is scheduled to be held in eight different locations in the country, out of which, two ministerial meetings will be held in Iloilo City.
The SME ministerial meeting will be held between 21 and 25 September and will register the participation of 700 delegates, while the food security and the blue economy will be held between 4-6 October and will receive close to 900 delegates.
Apart from Iloilo International, airports such as Ninoy Aquino International Airport (NAIA), Clark Airport in Pampanga and Kalibo Airport will also receive funds for rehabilitation.
Puerto Princesa Airport and Bicol International Airport are also on the radar of the Philippine Government to grant funds for infrastructure improvement.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
