Dutch government offers export credit insurance to new Manila airport

(Business Mirror, Makati City, 25 May 2022) SAN Miguel Corp. on Wednesday said it received support for the P740-billion (US$14 billion) new Manila International Airport (NMIA) project in Bulacan following the approval of the Dutch government, represented by Atradius Dutch State Business (DSB) of export credit insurance to Royal Boskalis Westminster N.V., to cover its 1.5-billion euro contract for land development works at the airport project site in Bulakan, Bulacan. The approval comes after more than a year of “rigorous” review of the project’s long-term environmental and social impact mitigation measures to ensure that the multi-billion project is done with sustainability in mind and aligned with the country’s climate ambitions. It is the largest export credit agency insurance policy granted in the 90-year history of Atradius. The airport project will feature four parallel runways, a terminal and an interlinked infrastructure network that includes expressways and railways.