The National Economic and Development Authority (Neda) Investment Coordination-Cabinet Committee has approved the 24-month loan validity extension for the Laguindingan Airport Development Project of the DOTC.

The DOTC sought for a two-year extension of the Korean Export-Import Bank loan and the Economic Development Cooperation Fund counterpart for the Laguindingan Airport project. The project schedule was revised to accommodate activities for the air navigation component of the Lagundingan Airport. This component is targeted for completion in September 2013 for the airport to start operating by December of the same year.

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