THE Japan Bank for International Cooperation (JBIC) has expressed interest in Philippine Samurai bond issues and green infrastructure, the Department of Finance (DoF) said.
The interest was conveyed in a meeting between Finance Secretary Ralph G. Recto and JBIC officials, the DoF said.
“JBIC Governor Nobumitsu Hayashi expressed strong interest in Samurai bond issuances, particularly green bonds, and explored potential cooperation in renewable energy projects, such as hydropower and power grids,” the DoF said in a social media post.
The Philippines last issued Samurai bonds in April 2022, raising 70.1 billion yen.
Mr. Recto has said the DoF is looking to issue yen-denominated and dollar-denominated bonds within the year. However, the timing would be determined by the Federal Reserve’s policy easing decisions.
The government plans to borrow $5 billion this year, of which $2 billion was raised from the issue of global bonds in May, leaving $3 billion yet to be raised.
Mr. Recto told the JBIC that the passage of proposed amendments to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law will exempt export-oriented firms from value-added tax.
The CREATE MORE (Maximize Opportunities for Reinvigorating the Economy) bill is still at the Senate committee level. It is one of the priority measures of the Legislative-Executive Development Advisory Council (LEDAC).
It is expected to offer incentives to attract investments in key sectors, especially mining.
The Philippines, with the world’s fourth-largest copper reserves, fifth-biggest nickel deposits, and substantial cobalt deposits, is positioning for a major role supplying materials for clean-energy technologies. — Beatriz Marie D. Cruz
