The OPEC Fund for International Development (OPEC Fund) expressed interest in expanding ongoing operations in the Philippines, the Department of Finance (DOF) said.

In a social media post Wednesday, the DOF said the Philippine economic team met with officials of the OPEC Fund at the sidelines of the Asian Development Bank 58th Annual Meeting in Milan, Italy earlier this month.

The Philippine delegation was led by Department of Budget and Management (DBM) Secretary Amenah Pangandaman and Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan.

Meanwhile, the OPEC Fund was represented by Vice President, Public Sector Shaimaa Al-Sheiby, Director for Private Sector Khalid Khadduri, Country Manager for Eastern Europe & Central Asia Fatma Elshhati, and Country Manager, Asia & the Pacific Region, Public Sector Sarah Bougara.

The DOF said that during the meeting, OPEC Fund officials also expressed interest in engaging with the country’s private sector and exploring opportunities for future cooperation.

Department of Finance Undersecretary for International Finance Group Joven Balbosa shared developments in the country’s private sector landscape, including recent reforms to drive public-private partnerships, particularly in infrastructure, climate finance, and small and medium enterprises development.

The OPEC Fund is a development institution that provides financing from member countries to non-member countries. (PNA)