PH, AIIB eye digital, energy partnerships

The Philippine government and the Asian Infrastructure Investment Bank are exploring partnerships in digitalization and energy to improve the ease of doing business, accelerate critical infrastructure development and support economic growth.

In a meeting with AIIB officials, Finance Secretary Frederick D. Go proposed two priority areas for possible collaboration: enhancing digitalization and bringing down energy costs.

“Two of the major issues in the ease of doing business are red tape and high energy costs. If there’s a way for us to work on these, then we can significantly enhance public service delivery and improve our investment environment which will help us grow the economy,” he said.

Go said stronger digitalization would help improve government processes and reduce red tape, resulting in more sustainable and efficient public service delivery.

He said reforms in government digital systems could produce more meaningful and long-term benefits for the country.

The finance chief also sought long-term solutions to make electricity more affordable and reliable for Filipino households, businesses and investors.

The government said AIIB’s experience in renewable energy projects, including solar, wind and hydro, could help the Philippines shift toward more sustainable energy sources and lower power costs over the long term.

AIIB President Zou Jiayi reaffirmed the bank’s commitment to supporting the Philippines’ development priorities through financing and technical assistance tailored to the country’s needs.

“We are here to listen and understand how we can support your priorities for the Philippines,” she said.

The bank also expressed interest in supporting projects involving water management and governance, as well as other critical infrastructure initiatives.

AIIB emphasized that water is a vital natural asset that requires sustainable investment.

The bank may also provide non-sovereign-based financing to support private sector participation in infrastructure and development projects.

Go welcomed the possible collaboration and underscored the importance of completing ongoing infrastructure projects on time so Filipinos can benefit from them as soon as possible.

AIIB is a Beijing-based multilateral development bank that began operations in 2016 and supports infrastructure projects in Asia and beyond.

The bank has grown to 111 approved members worldwide and is capitalized at USD 100 billion.

The proposed collaboration comes as the Philippines continues to pursue infrastructure upgrades, digital government reforms and renewable energy development to attract more investment and strengthen long-term competitiveness.

The Philippines has been working to lower power costs, a long-standing concern for manufacturers and investors, while expanding renewable energy capacity to improve supply reliability and reduce dependence on imported fuels.