Australia & Canada increase support to Philippine PPP Center
Date
August 02, 2013
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The Government of Canada and the Government of Australia, through the Asian Development Bank, are providing further funding to the Philippine Public-Private Partnership Center and the Project Development and Monitoring Facility.
The Project Development and Monitoring Facility is supporting the preparation of 25 PPP projects with total estimated investments of more than $4.2 billion, and the pipeline of projects continues to grow.
- The Government of Australia, through the Australian Agency for International Development, is providing a contribution of $12 million to the PDMF and $3 million for capacity building and institutional strengthening.
- The Government of Canada is adding $3 million to support capacity building and institutional strengthening in PPPs. The Philippine Government's counterpart contribution to PDMF will increase to the equivalent of $22.3 million.
- ADB's funding to the project is $2 million.
With the additional funds, at least 15 PPP projects are expected to be implemented or ready by 2016, up from the original target of five projects by the end of 2013.
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