Budget 2025: Changi Airport Development Fund to get S$5 billion amid Terminal 5 plans
The government will also provide a guarantee to Changi Airport Group to lower the cost of borrowings
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THE Changi Airport Development Fund used to develop Singapore’s air hub will receive a top-up of S$5 billion as the airport moves to build Terminal 5, said Finance Minister Lawrence Wong, who is also prime minister, on Tuesday (Feb 18).
In his Budget speech delivered in Parliament, PM Wong said Terminal 5 will expand Changi Airport’s capacity by more than 50 per cent and ensure Singapore remains a “critical gateway for global travel and trade”.
The top-up to the fund will ensure sufficient resources to build the Republic’s air hub, which is a “key pillar of connectivity”, he said.
The government, with the president’s agreement, will also provide a guarantee to Changi Airport Group.
“This will help to lower the cost of borrowings needed to develop Terminal 5 and supporting infrastructure in Changi East,” PM Wong said.
Ground-breaking for Changi Airport Terminal 5 will take place in “the coming months”, he said.
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