Beijing-based Asian Infrastructure Investment Bank expressed interest in investing more in the Philippines’ ‘Build, Build, Build’ infrastructure program amid the government’s sustained efforts to shift to investment-led growth.
Top AIIB officials led by vice president and chief investment officer Dr. D. J. Pandian discussed projects for possible cooperation with the Philippines during a meeting in Mumbai, India with Finance Secretary Carlos Dominguez III.
Dominguez said the possible AIIB loans would cover infrastructure projects that focus on improving the delivery of healthcare and education in line with the Duterte administration’s goal of human capital development.
“We are exploring a possible sectoral loan with AIIB to finance healthcare facilities, school buildings and rural roads,” Dominguez said.
The AIIB so far approved one project in the Philippines”•the Metro Manila Flood Management Project Phase 1 which it is co-financing with the World Bank.