ADB backs Phil hybrid model

The Asian Development Bank (ADB) has “expressed its support” for President Rodrigo Duterte’s administration’s hybrid PPP formula, according to the Philippine government.

The Department of Finance of the Philippines said that the ADB backed the hybrid model, under which the government will finance the construction of projects before bidding the maintenance and operation components to the private sector. 

Finance Secretary Carlos Dominguez III announced plans to adopt the hybrid model earlier this year, as the government sought the “fastest way” to deliver infrastructure projects as part of its PHP8.4tn ($165.6bn) Build Build Build programme.   

During a meeting in Manila, Dominguez suggested the government would enhance cooperation with the bank to participate in the United Nations-backed SOURCE database for PPPs, in a bid to showcase infrastructure projects to international investors. 

“I’d like to thank you for your funding of the capacity building for the technical consultants and also we would like to support your use of the United Nations-backed SOURCE database for PPP projects. We will support it 100%,” Dominguez said.