Philippines and JBIC renew cooperation for energy and infrastructure

The Philippine Department of Finance (DOF) and the Japan Bank for International Cooperation (JBIC) have signed a three-year Memorandum of Cooperation (MOC) to support clean energy transition, supply-chain resilience, and infrastructure development. Led by Finance Secretary Frederick D. Go and JBIC Governor Amakawa Kazuhiko, the agreement aims to promote Japanese foreign direct investment and strengthen coordination on public-private partnership (PPP) projects.

A primary focus of the partnership is the Luzon Economic Corridor (LEC), which seeks to enhance connectivity between Subic, Clark, and Batangas to reduce logistics costs and stimulate job creation. Additionally, the cooperation will support decarbonization efforts under the Asian Zero Emission Community (AZEC) to attract investment in cleaner energy sources.

Separately, the Philippines participated in the 33rd Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting in Hong Kong. Represented by Undersecretary Joven Z. Balbosa, the country advocated for enhanced project financing, digital transformation, and the use of blended finance and risk-sharing instruments to improve the bankability of regional projects.