Hiroshi Sagawa, Chief Representative, Japan Bank for International Cooperation
As Japan and the Philippines mark 70 years since the normalization of diplomatic relations, the Japan Bank for International Cooperation (JBIC) continues to deepen its role in shaping bilateral economic ties.
At its core, JBIC serves as a governmental financial institution supporting the overseas expansion of Japanese companies. As Sagawa notes, “JBIC supports the overseas expansion of Japanese companies through its competitive financing and dialogue with host country governments leveraging its status as a governmental financial institution.” In addition to providing direct loans, equity investments and guarantees, JBIC also works to improve investment environments by enabling policy recommendations for legal and institutional reforms.
In the Philippines, JBIC has supported nearly 900 projects to date, amounting to approximately USD 12.3 billion (around ¥1.8 trillion). These span infrastructure sectors such as power, railways and mining, as well as the establishment and expansion of Japanese manufacturing facilities, particularly in the electronics industry. Through these investments, JBIC has contributed to strengthening industrial capacity while supporting long-term economic growth.
Cooperation has expanded further under Japan’s Asia Zero Emission Community (AZEC) initiative. Tailored frameworks have been introduced to support a pathway toward carbon neutrality suited to the Philippines’ specific circumstances. These include a Project Development Platform based on memorandums of understanding with Philippine conglomerates and a High-level Coordination Dialogue designed to address regulatory bottlenecks. Collaboration with local banks has also been strengthened to support Japanese small and medium-sized enterprises entering the Philippine market.
“JBIC supports the overseas expansion of Japanese companies through its competitive financing and dialogue with host country governments leveraging its status as a governmental financial institution.”
Hiroshi Sagawa, Chief Representative, Japan Bank for International Cooperation
The 70th anniversary year has also catalyzed new project formation. A BCDA–JBIC Project Pitching Event in Clark brought together Japanese companies and Philippine stakeholders to accelerate cooperation on priority developments. A power sector seminar with the Department of Energy focused on microgrids, battery energy storage systems and energy efficiency, reinforcing shared efforts toward decarbonization.
Looking ahead, as the Philippines advances toward upper-middle-income status and expands public–private partnership projects across infrastructure sectors, JBIC is positioned to contribute through its extensive experience in financing such initiatives. With nearly 300 PPP projects planned nationwide and growing interest in the Luzon Economic Corridor, Japan–Philippines cooperation is entering a new phase. Seventy years on, JBIC’s role continues to evolve alongside the partnerships it supports.
Learn more about JBIC:
www.jbic.go.jp/en
www.jbic.go.jp/en/about/manila.html
