Memorandum of Understanding (MOU) between Infrastructure Asia, the Development Bank of Philippines and Public-Private Partnership Center of the Philippines
Infrastructure Asia signed a Memorandum of Understanding (MOU with the Development Bank of Philippines and Public-Private Partnership Center of the Philippines respectively to support infrastructure development in the Philippines, particularly in the building of private-sector partnerships.
MEMORANDUM OF UNDERSTANDING BETWEEN
INFRASTRUCTURE ASIA AND THE DEVELOPMENT BANK OF THE PHILIPPINES
- Infrastructure Asia (IA) and the Development Bank of the Philippines (DBP) signed a Memorandum of Understanding (MOU) today to cooperate in infrastructure knowledge sharing.
- Under this MOU, IA and DBP will collaborate to support infrastructure development in the Philippines, particularly in the building of private sector partnerships. IA and DBP will jointly identify Local Government Unit (LGU) partners in the Philippines that would benefit from the sharing of best practices and technical advisory in various fields of infrastructure, including smart cities, urban mobility, climate resilience, water supply and sanitation, and off-grid renewable energy. This will help promote the development of more viable infrastructure projects in the Philippines.
- IA and DBP will develop and organise capacity building events to share knowledge and exchange information. IA will harness the expertise of the Singapore-based infrastructure players to support the projects and programmes of DBP and its clients, which are primarily the LGUs.
- The MOU was signed by IA’s Executive Director Seth Tan and DBP’s President and Chief Executive Officer Emmanuel Herbosa
MEMORANDUM OF UNDERSTANDING BETWEEN
INFRASTRUCTURE ASIA AND THE PUBLIC-PRIVATE PARTNERSHIP CENTER OF THE PHILIPPINES
- The Public-Private Partnership (PPP) Center of the Philippines agreed to formalise its collaboration with Infrastructure Asia (IA) today through the signing of a Memorandum of Understanding (MOU) to assist Local Implementing Agencies (LIAs) in the Philippines for the development or implementation of their PPP projects.
- Under this MOU, IA will collaborate with the PPP Center to share knowledge on international practices for the PPP Center’s capacity building and policy formulation activities, including the development of PPP guidelines for focus areas such as healthcare, water supply and waste management. The PPP Center, on the other hand, will collaborate with IA to support them and its partners in their work arising from this MOU, as well as to support and facilitate coordination between IA and LIAs.
- This partnership between IA and the PPP Center will further help facilitate the current implementation of the Center’s Local PPP Strategy with its objectives of tapping private sector financing, expertise, and efficiencies into local and regional development and service delivery.
- IA will harness the expertise of the Singapore-based infrastructure players to support these activities. This is expected to catalyse the development of more viable infrastructure projects in the Philippines and encourage more LIAs to adopt the PPP model when developing or implementing their projects.
- The MOU was signed by the PPP Center’s Undersecretary and Executive Director Ferdinand Pecson and IA’s Executive Director Seth Tan.
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About The Development Bank of the Philippines
The Development Bank of the Philippines (DBP) is the country’s premier development financing institution that plays a pivotal role in the country’s infrastructure development. With this sharpened development focus, DBP has launched a more aggressive support for infrastructure development and inclusive growth, in accordance with the National Government’s “Build, Build, Build!” initiative. DBP supports projects directed at laying the infrastructure for growth in priority sectors, namely: transportation and logistics, environment, social services and community development, and small and medium enterprises. Accelerated lending is also channeled to the public sector, principally Local Government Units, Water Districts and Electrical Cooperatives.
About the Public-Private Partnership (PPP) Center
The PPP Center of the Philippines is the main driver of the country’s PPP Program. It serves as the central coordinating and monitoring government agency for all PPP Projects in the Philippines. Amongst its functions are to provide project advisory and facilitation services to both national and Local Implementing Agencies (LIAs) to help them develop and implement critical infrastructure and other development projects, and to empower them through providing technical assistance, and capacity development programs.
About Infrastructure Asia
Infrastructure Asia (IA) aims to support Asia’s social and economic growth through infrastructure development. IA was established by Enterprise Singapore and Monetary Authority of Singapore to support infrastructure financing and development in the region. It does so through early project scoping, best practice sharing and brokering, harnessing Singapore’s best-in-class infrastructure ecosystem (international developers, engineering and professional services, along with financial institutions and multilateral development entities). It also works with global players in the regional infrastructure ecosystem and leverages the collective capabilities and networks of various government agencies to catalyse more trade and investments into infrastructure in the region.