BDO backs NAIA modernization

BDO Unibank Inc. (BDO) is reaffirming its commitment to national progress by financing key infrastructure projects, including the modernization of the Ninoy Aquino International Airport (NAIA). 

Through its Institutional Banking Group and BDO Capital & Investment Corporation, BDO helped secure P80 billion (US$1.42 billion) in funding for New NAIA Infrastructure Corporation (NNIC), the consortium awarded the concession to rehabilitate and modernize the country’s primary gateway.

The NNIC consortium, led by San Miguel Holdings Corporation and including RMM Asian Logistics Inc., RLW Aviation Development Inc., and Incheon International Airport Corporation (IIAC), aims to improve airport efficiency and enhance passenger experience. IIAC, which operates South Korea’s Incheon Airport, brings world-class expertise in airport management and technology.

BDO’s ability to mobilize capital quickly underscores its leadership in large-scale infrastructure investments. 

“This initiative will drive economic growth, improve air mobility, and enhance the Philippines’ position as a regional hub,” said BDO Capital President Eduardo V. Francisco.

The NAIA modernization, a Public-Private Partnership (PPP) project, is one of the largest under the current administration. It is expected to generate revenue, create jobs, boost tourism, and attract foreign investment, complementing other major infrastructure projects like the Metro Manila Subway and New Manila International Airport in Bulacan.