MARRAKECH, MOROCCO [PART 6 of 7] – During the 2023 World Bank – International Monetary Fund (WB-IMF) Annual Meetings in Morocco, Finance Secretary Benjamin E. Diokno met with multinational banks Citi, HSBC, and Bank of America where he shared updates on the Philippines’ growth outlook, strong macroeconomic fundamentals, and roadmap to enhance ease of doing business.
Jay Collins, Citigroup Vice-Chairman of Banking Capital Markets and Advisory, lauded the country’s thrust for increased digitalization in retail payments and public financial management.
Meanwhile, HSBC Co-Head of Institutional Client Group and Global Head of Public Sector Banking Michael Ellam reaffirmed their long-standing partnership with the Philippines and talked about exploring more investments in sustainable infrastructure, energy transition, and nature-based solutions.
He also shared that Pentagreen Capital, a joint venture between HSBC and Temasek, signed its very first project financing for solar power projects in Luzon.
Bank of America Executive Vice Chairman of International Corporate and Investment Banking James Quigley shared their view that the Philippines’ growth prospects will remain strong in the long term, despite a challenging external environment beset by geopolitical conflict.
Citi, HSBC, and Bank of America have been supporting the Marcos administration’s Philippine Economic Briefings and investor roadshows abroad as official partner banks.
