AIIB funds Philippine port expansion

(l-r) Manuel F. Pascua, ICTSI CFO and CRO; Christian R. Gonzalez, ICTSI EVP; Enrique K. Razon Jr., ICTSI chair and president, Zou Jiayi, AIIB chair and president; Najeeb Haider, AIIB global director general, project and corporate finance clients; and Yong

Source: ICTSI/AIIB

Asian Infrastructure Investment Bank has approved a US$300 million loan to International Container Terminal Services to support the expansion and modernisation of three strategic container terminals across the Philippines

The senior unsecured corporate loan, AIIB’s first non-sovereign-backed transaction in the Philippines, will fund major development projects at the Manila International Container Terminal, the South Luzon Container Terminal and the Mindanao Container Terminal.

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