| THE AYALA WAY

Vol 6 No 6

"The blended finance deal confirms that financial innovation provides a solution. The deal is timely as Ayala continues to diversify financing options in sustainable finance, managing cost of capital volatilities, and uncertainties in policy directions on climate investments."

ESTELITO C. BIACORA
AC Treasurer

Ayala Corporation President and CEO Cezar P. Consing and Embassy of Canada Counsellor and Head of Cooperation John Lok with the Ayala and ADB blended finance deal team on January 24

SUSTAINABLE MOBILITY

ADB, Ayala Sign $100M Deal to Support PHL Electric Mobility Ecosystem

Ayala Corporation and the Asian Development Bank have signed a $100 million (P5.8 billion) blended finance facility to support the development of an electric mobility ecosystem in the Philippines. This funding will be used to procure and install electric vehicle charging stations (EVCS) and to purchase electric vehicles for distribution.

This blended finance facility features an innovative structure supported by multilateral funding and a concessional tranche. ADB's financing, along with the concessional loan from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA) aim to accelerate the deployment of EVCS infrastructure. A portion of the ADB financing will be allocated to procure electric vehicles from leading manufacturers for distribution across the country.

“What I find is that if we have like-minded people and institutions coming together, the likelihood of success of our journey towards sustainability is much stronger and this is what today represents: the coming together of like-minded people towards addressing the needs of the country and its sustainability goals,” said Ayala CFO Alberto de Larrazabal.

Added ACMobility CEO Jaime Alfonso Zobel de Ayala: “We would not be able to achieve our vision of an electrified future without the support of our stakeholders across different sectors. Today’s signing marks the beginning of what will be a year of milestones. This loan will serve as an impetus to accelerate the shift to sustainable mobility in the Philippines."

“ADB and CANPA provide us the financing innovation we cannot get in the global or international markets," noted Ayala President and CEO Cezar P. Consing. "What this deal does is that it allows us to pierce the Philippine government yield curves, which gives us clear advantage in the market."