The Department of Finance (DOF) and Spanish multinational financial institution Banco Bilbao Vizcaya Argentaria (BBVA) are exploring potential financing arrangements for infrastructure and development projects aimed at improving transportation, water services, and renewable energy access in the Philippines.
DOF Undersecretary Joven Balbosa met with BBVA representatives during the 2026 World Bank Group–International Monetary Fund Annual Meetings in Bangkok to discuss financing opportunities aligned with the country’s development priorities.
According to the DOF, the discussions focused on potential projects under the Philippines–Spain Framework Protocol on Financial and Technical Cooperation, which seeks to facilitate financial and technical collaboration between the two countries.
Among the initiatives discussed were proposed flyover projects designed to ease traffic congestion in urban areas, fisheries conservation programs, and investments to strengthen maritime security and aviation capabilities.
The meeting also explored opportunities to tap Spanish financing, technology, and technical expertise to support improvements in water services and renewable energy infrastructure.
The DOF said such cooperation could help address infrastructure gaps, improve access to essential public services, strengthen connectivity between communities, and protect livelihoods.
The engagement forms part of the government’s efforts to expand international financing partnerships and mobilize resources for infrastructure and other priority development projects.
No specific financing commitments, project costs, or implementation timelines were announced following the meeting.
