DEAL. Transportation Secretary Jaime Bautista (3rd from left) and executives of the International Finance Corp., the Mindanao Development Authority, and the Department of Transportation signed a Transaction Advisory Service Agreement for the modernization of the Davao International Airport (DVO) in Davao City on Friday (Oct. 11, 2024). Bautista said the agreement would fast-track the development of the DVO. (Photo courtesy of DOTr)
MANILA – The Department of Transportation (DOTr) and the International Finance Corp. (IFC) of the World Bank Group on Friday signed a Transaction Advisory Service Agreement (TASA) for the modernization of the Davao International Airport (DVO).
In a signing ceremony at the DVO in Davao City, Transportation Secretary Jaime Bautista said the TASA would fast-track the airport’s development similar to the recent successful Public-Private Partnership (PPP) for the Ninoy Aquino International Airport (NAIA).
“This agreement will formulate for us the best way to rehabilitate, expand, operate, and maintain the Davao International Airport and other regional airports,” Bautista said.
He added that the PPP process for the DVO would be completed in 13 months, like the NAIA PPP.
On the other hand, IFC Regional Manager Thomas Lubeck said the agreement would transform the Davao International Airport “into new heights.”
“We look forward to leveraging all our experience to make this a success, not only for the government but also for all the end users,” Lubeck said.
On Thursday, Bautista also signed a memorandum of cooperation (MOC) with the Mindanao Development Authority (MinDA) for infrastructure projects in the region.
The MOC intends to facilitate joint planning and programming to address the infrastructure needs of the southern region.
It also aims to provide joint project support for the timely implementation of transport projects in Mindanao. (PNA)
