BDO, KDB ink pact on project finance

MANILA, Philippines - BDO Unibank Inc. (BDO) and Korea Development Bank (KDB) have entered into a memorandum of understanding (MOU) to enhance cooperation on project financing in the Philippines and in East Asia.

The partnership complements a long-standing alliance  between the two countries  particularly on economic matters.

“In recent years, an increasing number of Korean companies are showing interest in participating in infrastructure and energy projects in the Philippines. It is very significant and timely that KDB is signing an MOU with BDO, the leading financial institution in the Philippines,” said KDB vice chairman and chief operating officer Kim Han Chul.

While BDO is the leading bank in the Philippines, KDB is the biggest development financial institution in Korea playing a pivotal role in its economic development and providing expertise in various fields such as project finance, M&A and corporate restructuring.

“I strongly believe that combining the strengths of our two institutions will create valuable business opportunities for both BDO and KDB,” added Kim.

 BDO president Nestor V. Tan said the MOU would help promote the entry of investments to the country of Korean companies.