Good for the nation

The Ninoy Aquino International Airport Public-Private Partnership (NAIA PPP) has created a blueprint for future airport deals, not only in the Philippines but in Southeast Asia and other countries as well, with its robust risk mitigation strategies and the integration of social safeguards and sustainability measures, according to the Asian Development Bank (ADB).

- MARY ANN LL. REYES

In a case study on NAIA, the ADB, which served as the transaction advisor for the project, noted that the NAIA PPP is a flagship infrastructure project for the country that demonstrates how the government can mobilize private capital and maximize its receipts by structuring a bankable project.

It highlighted that through a competitive tender process that ensures transparency and adheres to best practices, the NAIA PPP has set a new standard for PPPs in the region.

As transaction advisor, ADB explained that its role extends beyond financial structuring to include the integration of environmental, social and governance safeguards into the project's specifications. This includes climate adaptation measures such as flood protection and the integration of renewable energy solutions.

In the report, ADB emphasized that despite strong traffic and passenger growth, NAIA has long been plagued by underinvestment, resulting in overcrowded terminals, long queuing times, substandard facilities and a reputation – both local and international – as one of the world's worst airports.