The city government has approached a Korean bank with a soft loan proposal to fund its planned expansion of the Puerto Princesa International Airport.
Mayor Lucilo Bayron recently visited the Korean Exim Bank with other city government officials to present a loan proposal for the airport project that would involve a new terminal and the expansion of the runway to receive bigger commercial aircraft.
However, he stated that the bank is not granting loans to local government units. Instead, he was advised to contact a national government agency, particularly the Department of Transportation (DOTr).
“Galing yung grupo natin sa Korean Exim Bank kasama yung city planning, city architect, city engineer, at nagpresenta tayo ng long term loan, 40 years, pagkatapos, 0.05 percent interest,” Bayron said during Monday’s flag raising ceremony at the city hall.
(Our team visited the Korean Exim Bank, accompanied by the city planner, city architect, and city engineer. We presented a long-term loan proposal—40 years with a 0.05 percent interest rate.)
“Yun nga lang, hindi pala sila nagga-grant ng loan sa mga LGU, sa mga national government agencies lang. Kaya tinuruan tayo na dumaan sa DoTR dahil ang hinihingi natin ay expansion ng ating international airport sa Puerto Princesa, construction ng bagong terminal, at saka extension ng ating runway para makatanggap tayo ng mas malaking eroplano,” he stated.
(However, it turns out they don’t grant loans to LGUs, only to national government agencies. That’s why we were advised to go through the DoTR because what we’re asking for is the expansion of our international airport in Puerto Princesa, the construction of a new terminal, and the extension of our runway to accommodate larger aircraft.)
Bayron also noted that he contacted the DoTR and had a conversation with former Philippine Coast Guard commandant Admiral George Ursabia, who informed him that he would arrange a meeting with Usec. TJ Batan.
He said he was informed that they would anticipate two approaches for the airport expansion, with the Villar group also presenting a proposal to expand and manage the Puerto Princesa International Airport.
“Sabi ko wala pang nakipag-usap sa amin na Villar group para malaman nila kung anong plano ng LGU para ma-incorporate nila sa kanilang plano,” he said. “So dalawa yun, gagawa rin daw sila ng letter na mag-conduct na ng feasibility study yung Korean Eximbank.”
(I told them that the Villar group hasn’t reached out to us yet to understand the LGU’s plans so they can incorporate them into their own plan. So that’s two things; they also said they will draft a letter for the Korean Eximbank to conduct a feasibility study.)
