ADB, Timor-Leste Sign $135 Million Expansion Project for Presidente Nicolau Lobato Airport.
ENPNewswire-October 4, 2021--ADB, Timor-Leste Sign $135 Million Expansion Project for Presidente Nicolau Lobato Airport
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Release date- 01102021 - ADB, Timor-Leste Sign $135 Million Expansion Project for Presidente Nicolau Lobato Airport.
The Asian Development Bank (ADB) and the Government of Timor-Leste today signed a $135 million loan to help Timor-Leste expand the country's gateway airport by extending the runway, constructing a new air traffic control tower, and reconfiguring relevant facilities on the airside. The project will improve airport safety to attract more airlines and passengers and increase cargo flows.
'The Presidente Nicolau Lobato International Airport Expansion Project will offer safe and efficient air transport, enhance the country's connectivity and economic ties with neighboring Asia and Pacific countries, improve trade, investment and tourism, which will facilitate the diversification of the economy,' said ADB Country Director for Timor-Leste Sunil Mitra.
The project supports Timor-Leste's Strategic Development Plan, 2011-2030, which prioritizes infrastructure development to bolster economic growth and reduce inequality. The government has also emphasized the importance of economic diversification to the country's economic recovery from the coronavirus disease (COVID-19) pandemic. By improving air connectivity, the project will boost trade, tourism, and labor movement to spur private sector development and create jobs.
The airport in Dili is the main gateway to Timor-Leste, with 90% of passenger arrivals from overseas. The...
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