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— and is ex­pected to re­duce the strain on the con­gested Ni­noy Aquino In­ter­na­tional Air­port. The project will also help cre­ate jobs and in­crease de­vel­op­ment in Cen­tral Lu­zon, a grow­ing eco­nomic cen­ter.

IFC was the lead trans­ac­tion ad­vi­sor to BCDA in help­ing struc­ture and ten­der both the EPC and O&M con­tracts. IFC also pre­pared the project and con­ducted com­pet­i­tive ten­ders with sup­port from the World Bank’s Global In­fra­struc­ture Fa­cil­ity (GIF).

Vivek Pathak, IFC Di­rec­tor for East Asia and Pa­cific, said: “This project demon­strates IFC’s will­ing­ness to test and try out new PPP mod­els in sup­port of the govern­ment’s goal to de­liver cru­cial in­fra­struc­ture that is key to sus­tain­ing the coun­try’s growth mo­men­tum.”

He added that the han­dover of the air­port to a glob­ally-rec­og­nized op­er­a­tor will also help en­sure qual­ity ser­vice de­liv­ery and boost traf­fic con­nec­tiv­ity to the north­ern prov­inces of the coun­try— as well as to the re­gion and the rest of the world.

BCDA Pres­i­dent Vince Di­zon said, “As the first hy­brid PPP air­port awarded through a trans­par­ent and com­pet­i­tive ten­der, we are con­fi­dent that Clark air­port will soon be able to wel­come more pas­sen­gers with higher-qual­ity ser­vice. IFC’s ad­vice has been in­stru­men­tal in struc­tur­ing these trans­ac­tions, which have be­come a model for hy­brid PPPs in the Phi l i ppi nes.”

Jor­dan Schwartz, World Bank Di­rec­tor for In­fra­struc­ture Fi­nance, PPPs Guar­an­tees and Co-Chair of the GIF’s Gov­ern­ing Coun­cil, for his part said, “The GIF is pleased to have sup­ported the BCDA and IFC struc­ture.

It’s truly an in­no­va­tive so­lu­tion that brings in strong, pri­vate-sec­tor ex­pe­ri­ence in op­er­at­ing air­por t s.”

Over the past 30 years, IFC’s PPP Trans­ac­tion Ad­vi­sory team has sup­ported gov­ern­ments in over 100 coun­tries. Dur­ing this pe­riod, eight PPP projects have been suc­cess­fully im­ple­mented with the sup­port of IFC as trans­ac­tion ad­vi­sor to the Philip­pine govern­ment.

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