Manila LRT-6 pre-qualification submissions postponed

The government of Philippines has postponed the submission of pre-qualification documents for the P65.1-billion (US$1.39 billion) Light Rail Transit (LRT) Line 6 PPP project as it needs more time to look into the details of the deal. Read more

GMR Megawide selects UK firms for Cebu airport PPP

GMR Megawide will partner with five UK companies to tackle the Mactan - Cebu International Airport New passenger terminal PPP project. Read more

New deadline set for prison PPP project in the Philippines

The Republic of Philippines, through its Department of Justice (DOJ) and Bureau of Corrections (BuCor), has re-scheduled the bid submission for its first PPP project, the Regional Prison Facilities. Read more

IFC commits up to $200 million to IFC Emerging Asia Fund with investors from Fiji and Korea

IFC, a member of the World Bank Group, has committed up to US$200 million to the IFC Emerging Asia Fund (EAF), which has reached a first close. IFC is joined by the Korea Development Bank (KDB) and the Fiji National Provident Fund (FNPF). Central to the EAF is mobilizing additional capital in emerging markets of the Asia region, given the scale of investment, innovation, technological development and employment creation required for sustainable development in many low and middle income countries in the region falls beyond the range of the public sector, making the private sector central to finding and financing the development solutions that are needed.   Investments by the EAF will be aligned to IFC’s strategy for the region, which includes a focus on addressing the infrastructure deficit, and at the same time it will also help investee companies raise standards, improve risk mitigation and generate value.   The new global architecture for international development, the Sustainable Development Goals, launched at the United Nations in 2015, highlights that financing sustainable development requires low and middle income countries tap new sources of capital from both private and public sources, including leveraging global private capital to most skillful effect. Two thirds of the world’s poorest people live in emerging Asia and yet it is the engine room of global growth being the fastest growing region and the largest continental economy by GDP in the world. This growth is a function of favorable dynamics such as the continued need for enhanced infrastructure, the emergence of a rapidly growing middle class and commitments by many governments in the region to political and economic reform.  Combined, these dynamics have created significant opportunities for investment in the region including China, India, Indonesia, Philippines and Asian frontier markets such as Vietnam and Myanmar.  Read more

Philippines to award road PPP to Metro Pacific after no competitive proposals submitted

In May 2010 MPIC submitted an unsolicited proposal to the DPWH, and the agency granted MPIC an “Original Proponent” status for the project, which was later tendered on April 1, 2016. Read more