The Philippines’ Department of Finance (DOF) and Japan Bank for International Cooperation (JBIC) have renewed their cooperation framework to support clean energy transition and infrastructure investment, with the agreement valid for three years from execution. The memorandum of cooperation, signed by Finance Secretary Frederick D. Go and JBIC Governor Amakawa Kazuhiko, covers financial cooperation, supply-chain resilience and the promotion of Japanese foreign direct investment. It will also strengthen coordination on Philippine infrastructure development programmes, including public-private partnership (PPP) projects across multiple sectors.
The partnership will support decarbonisation initiatives under the Asian Zero Emission Community (AZEC) and promote investment in cleaner energy. The Luzon Economic Corridor, connecting Subic, Clark and Batangas, was highlighted as a priority opportunity to improve connectivity, streamline goods movement, reduce logistics costs and attract investment. Both institutions have begun exploring specific opportunities, with the cooperation intended to deepen engagement between JBIC, the Philippine government and private-sector stakeholders.