PH set to gain from new $1.5-B US energy fund

The Philippines is poised to benefit from the biggest investment ever approved by the United States International Development Finance Corp. (US DFC), as Washington moves to expand energy infrastructure across the Indo-Pacific region amid rising demand for liquefied natural gas (LNG).

- By BEN ARNOLD DE VERA

Documents seen by Manila Bulletin showed that the Philippines is among the five host countries under a new regional energy infrastructure investment platform with total target project costs of $3 billion, backed by the $1.5-billion financing commitment recently greenlit by DFC’s board of directors.

DFC is the development finance institution of the US government. It mobilizes private-sector investment through loans, equity investments, political risk insurance, and other financing tools to support economic development as well as advance US foreign policy objectives in emerging markets (EMs).

Specifically, the ISQ Asia Energy Infrastructure Investment Platform will focus on investments in the Philippines, India, Indonesia, Malaysia, and Vietnam. It aims to strengthen energy security among US allies while expanding American LNG and other hydrocarbon, equipment, and service exports to Indo-Pacific.