Press Releases

The Asian Development Bank (ADB) announced that a $40 million deal including the JICA-funded "Leading Asia's Private Infrastructure Fund" (LEAP)(*) had been signed with Tiger Infrastructure Philippines Inc. which comprises an investment of $25 million in the form of a direct loan from ADB and $15 million from LEAP.

The Philippines has only 164 telecommunications towers per 1 million people or about 27,000 towers as of 2021, one of the lowest coverage rates in the region. Access to the digital economy is one of the driving forces for inclusive growth especially in remote underserved areas. The Government of the Philippines estimates that an additional 60,000 towers are needed by 2031.

This project will improve access to digital services in the underserved regions of Mindanao and Visayas and will contribute to economic development through the construction and operation of 380 telecommunications towers in those regions. The project will contribute to the achievement of SDGs (Sustainable Development Goals) Goals 9 (Industry, Innovation and Infrastructure) and 17 (Partnerships for the Goals).

JICA will continue collaborating with countries and international organizations to promote quality infrastructure investment and contribute to social and economic development in developing countries and regions in line with the SDGs.

(*) Leading Asia's Private Infrastructure Fund (LEAP) is a part of the follow-up measure for the “Partnership for Quality Infrastructure,” which was announced by the Japanese government on November 21, 2015. Targeting high-quality private infrastructure projects in the Asia-Oceania region, the fund provides assistance for such projects organized under various arrangements, including public-private partnerships. In March 2016, JICA approved a $1.5 billion investment in private sector investment financing for LEAP. Providing support for a wide range of sustainable infrastructure projects undertaken by the private sector in ADB member countries of the Asia-Pacific region, LEAP is directed at projects in fields such as the reduction of greenhouse gas emissions, energy efficiency, and the provision of medical services at reasonable prices.