Cadip 2 to cost K603mil

The National National
From left: Asian Development Bank senior project officer (infrastructure) and resident mission officer-in-charge Ganiga Ganiga, Department of National Planning and Monitoring secretary Koney Samuel, Department of Transport secretary Roy Mumu, National Airports Corporation managing director and chief executive officer Rex Kiponge and NiuSky Pacific Ltd managing director and chief executive officer Capt Ted Pakii after the signing of the memorandum of understanding for the second phase of the Civil Aviation development investment programme in Port Moresby yesterday. – Nationalpic by NICKY BERNARD

By PETER ESILA
THE second phase of the Civil Aviation development investment programme (Cadip 2) cost is US$171.5 (about K603 million), according to the Asian Development Bank (ADB).
ADB senior project officer (infrastructure) and resident mission officer-in-charge Ganiga Ganiga said this during the signing of a memorandum of understanding (MoU) for Cadip 2 in Port Moresby yesterday.
He said ADB would finance 95 per cent of Cadip 2 and the Government would cover five per cent.
He said the MoU paved the way for ADB to provide the funding by end of this year or early next year.
The financing arrangement for the US$480 million (about K1.6 billion) Cadip 1 was 90 per cent funded by ADB and 10 per cent by the National Government.
Ganiga along with National Airports Corporation (NAC) managing director Rex Kiponge, National Planning and Monitoring secretary Koney Samuel, Transport secretary Roy Mumu and NiuSky Pacific Ltd managing director Capt Ted Pakii, signed the MoU.
“ADB is happy to continue the support and relationship with the Government that has been going on since 1971 when ADB launched its first technical assistance through a road project,” he said.
“Now we have a portfolio of more than US$1.5 billion (about K5.2 billion) to US$2 billion (about K7 billion), that has been mostly in the transport sector, the roads, ports and civil aviation.
“So Cadip 2 is not new, it is a follow-up from Cadip 1 but its significance is that Cadip 1 was mostly focused on the national airports, Cadip 2 is now looking at other forms of airports in the lower levels.”
The Cadip 2 implementation timeframe is five years with the loan envisaged to take effect in December.
All projects are expected to be completed by June 30, 2028, with the loan closing on Dec 31, 2028.
Cadip 2 aims to improve a selection of rural regional airports.