Amid a prolonged global oil crisis, the Philippines is poised to secure fresh grant and loan financing from bilateral as well as multilateral partners to support power-sector reforms and the transition to more renewable energy (RE) sources. United States (US) aid agency Millennium Challenge Corp....
The World Bank has urged Philippine implementing agencies to focus on completing the long-delayed Metro Manila Flood Management Project amid signs of progress and with less than six months remaining before its financing expires. In a June 7 implementation status and results report, the...
The China-backed Asian Infrastructure Investment Bank (AIIB) is expected to provide a $200-million loan to co-finance with the World Bank a forthcoming $1-billion policy-based financing package that will support the Philippines’ energy transition, electricity market reforms, and water-sector...
The Philippine government and the Beijing-based Asian Infrastructure Investment Bank (AIIB) are exploring partnerships in digitalization and energy aimed at improving the ease of doing business and accelerating infrastructure development to support economic growth. In a statement on Friday, May 22,...
Razon-led International Container Terminal Services Inc. (ICTSI) has secured a $300-million loan from the Beijing-based Asian Infrastructure Investment Bank (AIIB) to support the expansion and upgrade of three container terminals across the Philippines. In a statement on Wednesday, May 20, ICTSI...
The China-led Asian Infrastructure Investment Bank (AIIB) has greenlit a $300-million loan supporting capital expenditures (capex) for the improvement and expansion of three local ports operated by tycoon Enrique K. Razon Jr. ’s International Container Terminal Services Inc. (ICTSI). The latest...
Despite delays, the Metro Manila flood control project being funded by loans from the Washington-based World Bank Group (WBG) and the China-led Asian Infrastructure Investment Bank (AIIB) has so far benefitted over half a million residents in flood-prone areas. “To date, more than 600,000 people...
The World Bank has cited some inroads in the long-delayed Metro Manila flood control project, which is being partly funded by a loan it approved eight years ago. "The progress is moderately satisfactory with 38 pumping station construction sites and solid waste reduction activities," the...
