AIIB backs ICTSI with $300m Philippines terminal loan

May 20, 2026

The Asian Infrastructure Investment Bank (AIIB) has agreed on a $300 million senior unsecured corporate loan to International Container Terminal Services Inc. (ICTSI) to fund the expansion and modernisation of three container terminals across the Philippines.

The financing, AIIB’s first non-sovereign-backed transaction in the country, was signed during a ceremony attended by Enrique K Razon Jr, Chairman and President of ICTSI, and Zou Jiayi, President of AIIB, during her first official visit to the Philippines.

The investment targets three terminals: the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT), currently under development in Batangas, and the Mindanao Container Terminal (MCT).

Capacity upgrades will bring MICT to 3.7 million TEUs by 2027, MCT to around one million TEUs by 2028, and SLCT to 800,000 TEUs by 2028.

Beyond throughput gains, the funding will support the procurement of fully electric quay cranes and the replacement of diesel-powered yard equipment, measures intended to reduce greenhouse gas emissions across terminal operations.

Improvements to berth productivity are also expected as part of the wider upgrade programme.

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Zou Jiayi said: “ICTSI represents exactly the type of partnership AIIB aims to build as the Bank enters its second decade. This transaction demonstrates how AIIB can support infrastructure development by deploying innovative financing instruments and working closely with global operators who have the scale and execution capacity to deliver impact for the people we serve. We look forward to deepening this strategic relationship.”

Enrique K Razon Jr added: “ICTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives. We value AIIB’s shared commitment to long-term value creation, inclusive economic growth and responsible business practices, and as such, look forward to strengthening our partnership and accomplishing more together.”