Expressing frustration over national funding delays, Rep. Julio Ledesma IV (Neg. Occ., 1st District) on Thursday, June 10, declared his readiness to personally deploy ₱3.5 billion in private equity to construct the 1st district’s long-awaited airport in San Calos City if the national government fails to fund it by 2028.
Ledesma, who is seeking reelection in 2028, said he refuses to leave office without the infrastructure project secured, vowing to replicate the self-reliant “bootstrap” approach that has historically driven the district’s major developments.
“If the President won’t fund our airport, I will do what we’ve always done — build it ourselves,” Ledesma said, adding that he will not end his final term without the project in motion.
Ledesma outlined a concrete financial roadmap to secure the necessary capital drawing from personal wealth and potential institutional partnerships.
His proposed funding structure for the airport includes personal equity of ₱3.5 billion in free and deployable capital, which he expects to fully raise by 2027.
He noted that ₱1.95 billion of this total is already obligated and documented in his July 2025 and April 2026 Statements of Assets, Liabilities, and Net Worth (SALN).
He disclosed being deep in the validation and legal stage of a ₱2.9 billion transaction, which remains under a Non-Disclosure Agreement (NDA) until fully obligated.
Ledesma said that if the International Finance Corporation (IFC) is serious, it could provide an additional ₱1.5 billion.
Ledesma said this combined capital would be sufficient to fund a 55-to-60-hectare airport footprint, featuring a runway measuring 1,800 to 2,000 meters by 300 meters.
The solon made it clear that his personal billions will be deployed if the airport project is excluded from the 2028 National Expenditure Program (NEP).
A staunch supporter of the administration, Ledesma expressed that exclusion from the budget would leave him “deeply disappointed” given his all-out backing of the Marcos-Duterte tandem in 2022.
He issued a strict condition for any national figures seeking the 1st District’s political support in the 2028 elections, demanding a commitment to match his personal equity on a 1:1 basis.
Concurrently, local governments within the first district are studying the formation of a public-private development corporation.
Ledesma pledged to match any LGU funding commitments at a 1.5:1 ratio to accelerate the project.
“I don’t mind deploying my free capital on a development project that will benefit the Negros Island Region (NIR) and be its own stimulus,” Ledesma said, emphasizing that the local employment generated by the construction would directly uplift communities in his district.
Responding to critics who have questioned his legislative performance, Ledesma pointed to his landmark national laws and local infrastructure.
He cited his involvement in passing the Electric Power Industry Reform Act (EPIRA) of 2001, the General Banking Act of 2000, the Auto Excise Tax Act of 2003, and the financial provisions of the Anti-Money Laundering Act (AMLA).
Locally, he recalled how the critical Route 69 highway was bootstrapped and realized following a Fidel V. Ramos Cabinet meeting held in San Carlos City.
Ultimately, Ledesma emphasized that his most significant contribution to the district transcends physical infrastructure.
“My biggest give is the political stability and unity in our district for a generation,” Ledesma said.*
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