The Australian government commited $2.5-million additional support to the public private partnership (PPP) program as its way of strengthening economic cooperation between the two countries.
A delegation of top Australian officials headed by Foreign Minister Julie Bishop and Trade and Investmnt Minister Andrew Robb visited during the 40th anniversary of the Asean-Australia Dialogue Relations.
“Australian support for the Philippine government’s ambitious public-private partnership reform agenda has helped the PPP Center deliver five projects worth in excess of $1 billion,” she added.
The most recent PPP contract signed by the Philippine government is the $360-million Ninoy Aquino International Airport Expressway, benefited from just over $1 million in Australian funding to facilitate the transaction.
Australian support is helping the Philippines to use PPPs in delivering better services to Filipinos and increase private sector participation and investment in major infrastructure projects.
With dozens of PPP projects in development, and the continued support of Australia, the Aquino administration is well placed to deliver on its commitment to sign 15 PPP contracts by 2016.
The success of the Philippines PPP Center is serving as a model for the Asia-Pacific Economic Cooperation pilot PPP Center in Jakarta. In October 2013, Prime Minister Tony Abbott announced a $3-million support for the pilot center.
Australia’s partnership with the Philippines is in line with the latter’s improved infrastructure development and sustainable economic growth.