The Philippine government is exploring possible partnerships with the Asian Infrastructure Investment Bank (AIIB) to accelerate digitalization, lower energy costs, and support infrastructure-driven economic growth.
During a meeting with AIIB officials, Finance Secretary Frederick Go identified two priority areas where the Philippines hopes to deepen cooperation with the bank: improving government digital systems and making electricity more affordable.
“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,” Go said.
Go said digitalization remains critical to cutting bureaucratic delays, streamlining public transactions, and improving the delivery of government services. He said reforms in this area could bring long-term benefits to citizens, businesses, and investors.
The finance chief also sought support for long-term energy solutions that would make power more reliable and affordable for Filipino households and enterprises.
The AIIB’s experience in renewable energy, particularly in solar, wind, and hydro projects, is seen as a possible boost to the Philippines’ transition to cleaner and more sustainable energy sources. Such projects could also help reduce electricity costs over time.
AIIB President Zou Jiayi reaffirmed the bank’s readiness to support the Philippines’ development priorities through financing and technical assistance suited to the country’s needs.
“We are here to listen and understand how we can support your priorities for the Philippines,” Zou said.
The AIIB also expressed interest in supporting water management and governance projects, as well as other critical infrastructure initiatives. The bank emphasized the need for sustainable investments in water, which it described as a vital natural asset.
Aside from sovereign financing, the AIIB can also provide non-sovereign financing to support private sector-led projects.
Go welcomed the prospect of stronger cooperation with the AIIB and stressed the importance of completing ongoing infrastructure projects on time so Filipinos can benefit from them sooner.