MANILA - Japan will provide a supplemental 4.376 billion yen (P2.09 billion) loan for the expansion of the the New Bohol Airport, the Department of Finance said Monday.
The loan from the Japan International Cooperation Agency will cover the second phase of the project, which calls for the expansion of the airport's runway and passenger terminal building, the DOF said in a statement.
Finance Secretary Carlos Dominguez III and JICA Chief Representative Yoshio Wada signed the loan agreement on Monday, the DOF said.
JICA earlier provided around P5.18 billion for the first phase of the project, which is also known as the Bohol Panglao International Airport.
The new airport, which was approved in 2012, will replace the old airport in Tagbilaran City.