The Export-Import Bank of Korea (Eximbank) has announced a USD260 million loan to support the development of a new airport in Dumaguete, Philippines. This will be the largest loan ever provided by Eximbank’s Economic Development Cooperation Fund (EDCF) for a project in the Philippines.
The project aims to establish an airport in central Philippines capable of handling 2 million passengers annually.
Additionally, Eximbank will offer USD3 billion in support for large-scale infrastructure projects in the Philippines over the next five years through the Economic Development Promotion Facility (EDPF). This cooperation is expected to enhance opportunities for Korean firms in the Philippine infrastructure sector.