The Philippines’ Department of Finance (DOF) and Japan Bank for International Cooperation (JBIC) have signed a three-year memorandum of cooperation to support infrastructure development across multiple sectors. The agreement covers clean energy transition, supply-chain resilience, financial cooperation and the promotion of Japanese foreign direct investment (FDI) in the Philippines. It also includes initiatives under the Asian Zero Emission Community (AZEC), which aims to advance decarbonisation projects and attract investment in cleaner energy.
The cooperation will support infrastructure development through the Luzon Economic Corridor, a priority platform for attracting investment. The partnership aims to strengthen coordination between the public and private sectors, improve energy reliability and infrastructure efficiency, and enhance supply-chain resilience. Separately, the DOF has called on the Asian Infrastructure Investment Bank (AIIB) to expand its development impact through more flexible financing, grants and technical assistance, with priorities including renewable energy, lower power costs and climate adaptation and mitigation projects.