The Asian Infrastructure Investment Bank ( AIIB ) will lend US$300 million to International Container Terminal Services Inc ( ICTSI ) to support the expansion and upgrade of three container terminals in the Philippines.

The senior unsecured corporate loan – AIIB’s first non-sovereign-backed transaction in the Philippines – was signed during a ceremony attended by ICTSI chairman and president Enrique Razon and AIIB president Zou Jiayi. 

The loan will support technology-enabled infrastructure upgrades at the Manila International Container Terminal ( MICT ), the South Luzon Container Terminal ( SLCT ) currently under development in Batangas province, and the Mindanao Container Terminal ( MCT ).

Together, the investments will increase annual container throughput capacity, improve berth productivity, and contribute to the country’s economic growth. The financing will also support the purchase of fully electric quay cranes and the replacement of diesel-powered yard equipment, thereby reducing greenhouse gas emissions from terminal operations.

The project will increase MICT’s capacity to 3.7 million TEU ( 20-foot equivalent units ) by 2027, that of MCT to around 1 million TEU by 2028, and that of SLCT to 800,000 TEU by 2028.

“ICTSI represents exactly the type of partnership AIIB aims to build as the bank enters its second decade,” comments Zou. “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.”

Says Razon: “We value the 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.”

ICTSI is an independent global terminal operator with operations across Asia-Pacific, the Americas, Europe, the Middle East, and Africa, and is ranked among the world’s largest terminal operators. 

Established in the Philippines in 1987, the company collaborates with governments to modernize port infrastructure and enhance operational performance, unlocking long-term value from public maritime assets while delivering measurable economic and social benefits to partner communities.