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Manila Bulletin devider Trade & Energy devider Europe's EIB keen on PH sustainable projects

Europe's EIB keen on PH sustainable projects

Published Jun 28, 2023 08:34 am
The European Investment Bank (EIB), the largest multilateral financial institution globally owned by 27-EU member states, has expressed a strong interest in participating in several key projects of the Philippines, including digital connectivity, public transport, green economy, renewable energy, agriculture, and health sectors.

EUROPEAN INVESTMENT BANK (EIB) KEEN IN PH SUSTAINABLE PROJECTS --  DTI Secretary Alfredo E. Pascual met with EIB Vice President Kris Peeters in Brussels on June 26, 2023 to discuss potential investments in green projects.


This was revealed by Trade and Industry Secretary Alfredo E. Pascual after meeting with EIB Vice President Kris Peeters in Brussels. Pascual is currently leading a three-week investment roadshow in Europe. In the said meeting, Pascual expressed that through their renewed interest in engaging with the country, EIB could collaborate with the Philippine government to develop sustainable and environmental-friendly projects. He highlighted notable projects such as the EU-Philippine Digital Connectivity Flagship Project and the ongoing Renewable Energy Projects with other government agencies. Further, he extended an invitation to the EIB to participate in the Mindanao Agro-Enterprise Development Project which is currently managed by the Asian Development Bank (ADB). The DTI Chief also discussed potential projects aligned with the Philippines’ transition into a green and sustainable economy, which he believed would be of interest to the EIB. EIB aims to promote job creation, economic growth, and development in Europe. It prioritizes projects related to climate change mitigation and adaptation, social and economic infrastructure development, and support for small and medium enterprises (SMEs) at the local level. Alongside this, Pascual emphasized the DTI’s commitment to achieving a green transition and digitalization of industries, particularly for the micro, small, and medium enterprises (MSMEs). He also highlighted the role that EIB’s participation would play in realizing these initiatives. Also present in the meeting are Ms. Isabel Fernandez Sarabia, Senior Institutional Policy Officer for EIB; DTI Undersecretary for Communications Ma. Blanca Kim B. Lokin; DTI Assistant Secretary Allan B. Gepty; Commercial Counselor and Director of the Philippines Trade and Investment Center-Brussels Magnolia M. Ashley; EIB officials, and other members of the Philippine delegation.

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