IFC lauds the Philippines’ improved framework for PPPs

MARRAKECH, MOROCCO [PART 3 of 7] – The International Finance Corporation (IFC), which serves as the WBG’s private sector investment arm, lauded the Philippines’ new and improved policy framework for public-private partnerships (PPPs).

In a meeting with Finance Secretary Benjamin E. Diokno and Department of Finance (DOF) Undersecretary Alu Dorotan Tiuseco, IFC Regional Vice President for Asia and the Pacific Riccardo Puliti said that the recently approved PPP Code, which consolidates and simplifies the legal framework for all PPPs in the Philippines, will help bring in more domestic and international investments in infrastructure.

The IFC further emphasized its commitment to supporting the Philippines’ sustainable development by helping mobilize private sector capital and attract investments.

Currently, the IFC is working on Philippine PPP projects in healthcare, broadband, and transportation. For the period July 1, 2020 to June 30, 2022, IFC committed US$ 720 million to projects in the Philippines aimed at fostering a more resilient and inclusive recovery, sustainability and digital transformation.

IFC also serves as an advisor for major projects, including Open Finance Advisory Services to the Bangko Sentral ng Pilipinas (BSP), the University of the Philippines Philippine General Hospital (UP-PGH) Cancer Care Hospital PPP, National Broadband Plan (NBP), and transportation PPPs in regional airports, metros, and bus systems.