The European Investment Bank expressed a strong interest in participating in several key projects of the Philippines, including digital connectivity, public transport, green economy, renewable energy, agriculture, and health sectors.
This was after Department of Trade and Industry (DTI) Secretary Alfredo Pascual’s bid for collaboration with EIB during the meeting with its Vice President Kris Peeters at the EIB representation office in Brussels on June 26, 2023.
As the largest multilateral financial institution globally, owned by EU member states, the EIB aims to promote job creation, economic growth, and development in Europe. It prioritizes projects related to climate change mitigation and adaptation, social and economic infrastructure development, and support for small and medium enterprises (SMEs) at the local level.
Secretary Pascual highlighted notable projects such as the EU-Philippine Digital Connectivity Flagship Project and the ongoing Renewable Energy Projects with other government agencies.
Further, he extended an invitation to the EIB to participate in the Mindanao Agro-Enterprise Development Project which is currently managed by the Asian Development Bank (ADB).
The Trade Secretary also discussed potential projects aligned with the Philippines’ transition into a green and sustainable economy, which he believed would be of interest to the EIB.
Alongside this, he emphasized the DTI’s commitment to achieving a green transition and digitalization of industries, particularly for the micro, small, and medium enterprises (MSMEs). He also highlighted the role that EIB’s participation would play in realizing these initiatives.
Secretary Pascual further expressed that through their renewed interest in engaging with the country, EIB could collaborate with the Philippine government to develop sustainable and environmental-friendly projects.
Also present in the meeting were EIB Senior Institutional Policy Officer Isabel Fernandez Sarabia and other EIB officials; DTI Undersecretary for Communications Ma. Blanca Kim B. Lokin, DTI Assistant Secretary Allan B. Gepty, Philippines Trade and Investment Center-Brussels Commercial Counselor and Director Magnolia M. Ashley, and other members of the Philippine delegation.
