Under the Philippines government’s development plan to boost infrastructure, it is estimated that a total of $168bn is needed for 74 projects nationwide, where private sector expertise and innovation is needed, the bank said.

It said: “To finance this, the government wants to use an optimal funding mix composed of government spending, official development assistance, and private capital.”

Cristina Lozano, ADB senior trade specialist, said that public-private partnerships can provide “reliable public services though efficient infrastructure” and improve the overall quality of projects in the country.

The country has undergone reforms to help ensure a sustainable framework for PPPs, including capacity to manage the PPP programmes and enhance the legal framework for preparation, approval and implementation of PPPs.

Since 2010 the Philippines government has embarked on a total of 16 national PPP projects worth around $6.2bn.