The Asian Infrastructure Investment Bank (AIIB) will lend USD300 million to International Container Terminal Services Inc. (ICTSI) to support the expansion and upgrade of three container terminals across the Philippines, according to a press release issued in Manila on May 20, 2026. The senior unsecured corporate loan is AIIB’s first non-sovereign-backed transaction in the Philippines. It was signed during a ceremony attended by ICTSI President and Chairman Enrique K Razon and AIIB President Zou Jiayi as part of her first visit to the Philippines. The financing will fund technology-enabled infrastructure upgrades and support a green transition in port operations. It marks a strategic milestone for both institutions.
The investment targets three facilities operated by ICTSI in the Philippines. These include the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT) currently under development in Batangas, and the Mindanao Container Terminal (MCT). ICTSI was established in the Philippines in 1987 and is ranked among the world’s largest terminal operators. The company runs 33 terminals in 19 economies across six continents. It is listed on the Philippine Stock Exchange (PSE: ICT).
The investments are expected to increase annual container throughput capacity, improve berth productivity, and contribute to the Philippines’ economic growth. The project will raise MICT’s capacity to 3.7 million TEU by 2027, MCT’s capacity to around 1 million TEU by 2028, and SLCT’s capacity to 800,000 TEU by 2028. The financing will also support the purchase of fully electric quay cranes. It will fund the replacement of diesel-powered yard equipment. These steps will reduce greenhouse gas emissions from terminal operations.
“ICTSI represents exactly the type of partnership AIIB aims to build as the Bank enters its second decade,” Zou said. She added that the transaction demonstrates how AIIB can support infrastructure development by deploying innovative financing instruments and working closely with global operators. Enrique K Razon Jr, ICTSI chair and president, said: “ICTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives.” He highlighted the AIIB’s shared commitment to long-term value creation, inclusive economic growth, and responsible business practices. Both leaders signaled intent to deepen the relationship.
AIIB began operations in 2016 and now has 111 approved members worldwide. The bank is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. Its mission focuses on financing “Infrastructure for Tomorrow,” with sustainability at its core. The ICTSI loan reflects this mandate by combining capacity expansion with emissions reduction. The transaction sets a precedent for AIIB engagement with private sector operators in the Philippines.
