ADB grants loan for airport development

The US$640 million (K2.2 billion) Civil Aviation Development Programme (Cadip) of which US$480 million (K1.6 billion) is a loan from Asian Development Bank will end in November next year.
Asian Development Bank country director, David Hill, said Cadip was carried out over a 10-year period from 2009-2019.
“Twenty airports are covered under this programme,” he said.
“Timely procurement of these contract packages largely closes out the works planned under the existing Cadip, and demonstrates the capacity of National Airports Corporation to deliver projects with approved loan funding.
“The objective of Cadip is to establish a sustainable civil aviation network to support economic growth and poverty reduction in project areas by providing safer, more-efficient, and accessible all-weather air transport services in the project areas. Additionally, it supports tourism development.”
“However, there is still much work in the sector to do, and a new multi-tranche financing facility (MFF) for the civil aviation sector (Cadip 2) is under preparation and will commence after 2019.
“It is envisaged that Cadip2 will carry on and finish the work started by the Cadip, as well as expand to cover priority rural airstrips.
“ADB looks forward to working collaboratively with the GoPNG towards continuing to achieve PNG national objectives in the civil aviation sector in the coming years.”
Deputy Prime Minister and Tresurer Charles Abel said Cadip signalled that the Government was continuing to make investments.
“Our Government is coming up with financial modality to deliver successful programmes like this to benefit our people,” he said.