The Asian Infrastructure Investment Bank (AIIB) has signed a USD 300m senior unsecured corporate loan with International Container Terminal Services Inc. (ICTSI) to support the expansion and upgrade of three container terminals across the Philippines. This agreement marks AIIB’s first non-sovereign-backed transaction in the country. The funding aims to boost annual container throughput capacity, improve berth productivity, and contribute to the economic growth of the Philippines while driving a green transition in terminal operations
The financing will fund technology-enabled infrastructure upgrades at the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT) under development in Batangas, and the Mindanao Container Terminal (MCT). Additionally, the capital will support the purchase of fully electric quay cranes and the replacement of diesel-powered yard equipment. These acquisitions are specifically intended to reduce greenhouse gas emissions from daily terminal operations.
Through these investments, the project will increase MICT’s capacity to 3.7m TEUs by 2027. Furthermore, the capacity of MCT will reach approximately 1m TEUs by 2028, and SLCT will achieve a capacity of 800,000 TEUs by the same year.