Twenty officials from the Government of the Philippines from 11 agencies joined an Infrastructure Financing Study Visit in London from 30 January – 2 February, organised by the British Embassy Manila.
Engagements with a range of UK public and private entities offered deep-dive discussions, sharing of expertise, and site visits to Silvertown Tunnel and the Elizabeth Line rail route. One of the key activities for the delegates was a learning session with the UK’s Infrastructure Projects Authority (IPA) to understand the UK’s experience in designing its National Infrastructure Assessment and delivering its National Infrastructure Plan. Further case study presentations and site visits with Transport for London and Crossrail International allowed for direct exposure to the UK’s project initiation, preparation, appraisal and approval process. The activities set out how the Philippines can learn from UK experience on developing bankable projects that adhere to international standards and are commercially attractive to international investors.
British Ambassador to the Philippines, Laure Beaufils, welcomed the visit, saying:
Bringing this delegation to the UK demonstrates our commitment to the development of sustainable, inclusive infrastructure projects in the Philippines. The UK is always delighted to share expertise from across our infrastructure ecosystem to help catalyse private sector investment with our partners. The UK and the Philippines share a common commitment to a better, more resilient future. Together, we are paving the way for critical infrastructure that meets both the current and future needs of the Philippines.
The Government of the Philippines is keen to continue to partner with the UK to help mobilise finance for its priority projects and programmes.
His Excellency Teodoro L. Locsin Jr., Philippine Ambassador to the UK said:
The Philippine government is keen to partner with the UK in financing priority programs and projects and to explore mutually beneficial investment opportunities in the public and private sectors. Both sides are now working on a government-to- government arrangement which will allow the Philippines to access the GBP4 billion export credit financing offer from the UK. Discussions are ongoing and we should have this finalized very soon.
The visit served as an opportunity for both governments to learn from each other. The UK highlighted its knowledge, technical expertise, experience, best practice and comparative advantages in infrastructure development. The Philippines, through the Government’s implementing agencies, showcased its priority infrastructure projects alongside their requirements. The visit served as an opportunity to lay the foundations for future collaborations driven by both governments’ priorities, which will be partly realised through the execution of an export credit Framework Agreement between the two governments to help mobilise additional capital from the private sector.
The Philippine Delegation was comprised of: the Department of Finance (DOF), National Economic Development Authority (NEDA), Public-Private Partnership (PPP) Center, Department of Transportation (DOTr), Department of Agriculture (DA), Department of Public Works and Highways (DPWH), Department of Information and Communications Technology (DICT), Department of Health (DOH), Department of Energy (DOE), Department of Justice (DOJ), Department of Environment and Natural Resources (DENR), Bases Conversion and Development Authority (BCDA), and Clark International Airport Corporation.