The Department of Finance (DOF) and the Japan Bank for International Cooperation (JBIC) signed a three-year Memorandum of Cooperation (MOC) to enhance infrastructure investments in the Philippines, focusing on energy, transportation, and public-private partnerships.
DOF and JBIC Sign Three-Year Agreement
The DOF and JBIC renewed their strategic cooperation through a three-year MOC, aiming to strengthen infrastructure development in the Philippines. The agreement, signed by Finance Secretary Frederick Go and JBIC Governor Amakawa Kazuhiko, emphasizes supply chain resilience, clean energy transitions, and Japanese foreign direct investment in the country.
“Our renewed cooperation comes at an important time. For our economy to remain competitive, we need reliable energy, efficient infrastructure, and resilient supply chains. These are essential to managing business costs, attracting investment, and sustaining growth,” Go said.
Finance Secretary Frederick Go, Department of Finance
The MOC includes provisions for financial cooperation, project financing, and technical assistance.
Focus Areas and Projects
JBIC noted discussions are underway to identify projects under the MOC, including initiatives in energy transition and infrastructure financing. The collaboration will explore opportunities to mobilize financial and technical expertise for Philippine projects, according to the DOF. JBIC Governor Amakawa Kazuhiko emphasized the agreement’s role in fostering deeper cooperation, stating, We view this MOC as an important first step for deeper cooperation.
“We view this MOC as an important first step for deeper cooperation. I understand that our respective teams have already begun exploring specific opportunities in several promising areas,” Amakawa said.
JBIC Governor Amakawa Kazuhiko
The MOC’s focus on supply chain resilience includes addressing vulnerabilities in critical minerals and logistics infrastructure. It also prioritizes public-private partnership (PPP) projects, using Japanese expertise in energy and transportation. The agreement’s scope extends to supporting the Philippines’ energy transition goals, as outlined in the AZEC framework, which aims to accelerate low-carbon development across Asia.
Broader JBIC Infrastructure Efforts
JBIC’s broader infrastructure activities, as detailed in its press releases, include financing natural gas projects in the U.S., renewable energy developments in Egypt, and hydrogen supply chain collaborations in Latin America. These efforts align with global sustainability goals but are not directly tied to the DOF-JBIC MOC.
On August 26, 2026, JBIC approved financing for a natural gas generation project in the U.S. as part of its second investment in the region. The project, under the North America Infrastructures Untied Loans initiative, aims to strengthen energy security. On August 14, 2026, JBIC signed a memorandum of understanding (MOU) with the Inter-American Development Bank and Inter-American Investment Corporation to enhance cooperation in critical minerals, sustainability, and social infrastructure across Latin America and the Caribbean.
In the Middle East, JBIC provided a credit line to support renewable energy, power transmission, and water supply projects in Türkiye. JBIC issued a loan under its GREEN Operations initiative, focusing on waste management and renewable energy. These projects reflect JBIC’s commitment to environmental sustainability and infrastructure development globally.
JBIC’s efforts in the Middle East also include a loan for a natural gas-fired power and desalination project in Qatar, approved on November 19, 2024. The project, under the Middle East Infrastructures Environment Overseas Investment Loans program, supports energy and water infrastructure. In the UAE, JBIC provided guarantees for the Taweelah B Power and Desalination Project in 2005, marking its first financial support for a large-scale infrastructure project in the region.
On December 23, 2019, JBIC signed an MOU with the International Finance Corporation (IFC) to strengthen cooperation on environment and infrastructure projects in developing countries. This partnership aims to structure projects that address climate change and promote sustainable development. JBIC also financed the Taza Onshore Wind Power Generation Project in Morocco on November 19, 2019, supporting Japanese companies’ participation in renewable energy ventures in Africa.