Gov’t urges foreign, local banks to finance major PPP projects

MANILA, Philippines - The government is luring international and local financial institutions to finance major infrastructure projects as it makes a final push for Public-Private Partnership (PPP) projects with one year left in the term of President Aquino.

Cosette Canilao, executive director of the PPP Center, said the government would hold its first PPP forum this year after successfully holding several roadshows in Europe, North America, Australia, and Singapore last year.

Canilao said the government expects more than 200 participants in the forum dubbed as Invest PPPs @PH: Bridging The Financial Gap, Exploring Partnerships is set on April 24.

PPP Center has partnered with BPI Capital Corp., Macquarie Capital, Sumitomo Mitsui Banking Corp., and Sun Life Financial for the event.

The forum would have four sessions including the Philippine Bond Market – Exploring Issuance of Project Bonds for PPPs; the Project Financing of PPPs – Challenges in Emerging Markets; the importance of sovereign guarantees for PPPs; and creating a suitable environment for infrastructure investment to attract institutional investors to Philippine PPPs.

Speakers include BPI Capital president Daniel Montecillo; Infrastructure, Utilities and Renewables Asia executive chairman, John Walker AM; Sumitomo Mitsui Bank power and infrastructure advisory investment banking Asia head Valery Tubbax; and Sun Life marketing director Michael Manuel.

The forum also includes a Meet and Match Session that would bring together banks, financing institutions as well as local and foreign investors.

The government has already awarded nine PPP projects since 2010 with a total indicative cost of P136.37 billion.