BDO Unibank Backs NAIA Modernization to Boost Air Mobility

Recognizing the vital role of infrastructure in national progress, BDO Unibank Inc. (BDO) remains committed to supporting transformative projects that drive sustainable growth and enhance essential services. As a key financial partner in the Ninoy Aquino International Airport (NAIA) modernization, BDO strengthens its role in improving the Philippines‘ primary gateway, boosting connectivity, and creating new economic opportunities.

Facilitated by BDO’s Institutional Banking Group and BDO Capital & Investment Corporation (BDO Capital), the bank helped secure PHP 80 billion (US$1.42 billion) in funding for New NAIA Infrastructure Corporation (NNIC)—the consortium awarded the concession to rehabilitate and modernize NAIA. The consortium, led by San Miguel Holdings Corporation (the infrastructure arm of San Miguel Corporation), includes RMM Asian Logistics Inc., RLW Aviation Development Inc., and Incheon International Airport Corporation (IIAC). Together, they aim to significantly improve airport efficiency and passenger experience.

Global Expertise for a World-Class Airport

San Miguel Holdings Corporation, a major NNIC stakeholder, brings its extensive infrastructure expertise, with businesses contributing approximately 6% of the Philippines’ GDP. Meanwhile, IIAC, a wholly owned entity of the Korean government and operator of South Korea’s Incheon Airport—one of Asia’s busiest—adds global best practices in airport management, technology, and operational efficiency. Their involvement underscores international confidence in the Philippines’ economic potential and its commitment to infrastructure modernization.

Financial Leadership and Seamless Execution

BDO’s ability to swiftly mobilize large-scale capital under tight timeframes highlights its leadership in infrastructure financing. BDO Capital, in collaboration with other investment banks, structured the complex funding deal. This is to ensure a smooth financial process for NNIC, overcoming market challenges.

“BDO has been a steadfast partner in infrastructure development. They have ensured projects like the NAIA modernization have the necessary financial backing to succeed. This initiative will drive economic growth, improve air mobility, and position the Philippines as a regional hub,” said Eduardo V. Francisco, President of BDO Capital.

Charles M. Rodriguez, BDO’s Executive Vice President and Head of Institutional Banking Group, added, “We take pride in supporting transformative projects that create long-term value for businesses and communities. The modernization of NAIA is a milestone in improving air travel efficiency and accessibility for millions of Filipinos.”

Driving Economic Growth and Connectivity

The NAIA modernization, one of the administration’s priority undertakings, will play a critical role in enhancing the country’s transport infrastructure. BDO’s financial support ensures that despite fiscal challenges, the project stays on track. This reflects the bank’s commitment to private-sector collaboration in nation-building.

“This is a landmark transaction that demonstrates BDO’s support for the government’s Public-Private Partnership (PPP) programs. This will foster improved air mobility and infrastructure development,” said Angelito Alvarez, NNIC’s General Manager.

As the largest PPP project under the current administration, the NAIA modernization is expected to generate substantial revenue for the Philippine government. Additionally, it will create new jobs, boost tourism, and attract foreign investment. It also complements other key transport infrastructure projects, like the Metro Manila Subway and the New Manila International Airport in Bulacan. As a result, it will create a more integrated and efficient transportation network.

Through its financial expertise and commitment to infrastructure development, BDO continues to play a vital role in transforming NAIA into a world-class gateway. This drives sustainable growth and enhances the country’s global competitiveness.