BCDA, Standard Chartered Ink Pact for Clark, New Clark City Project Studies

The Bases Conversion and Development Authority (BCDA) has signed a memorandum of understanding (MOU) with Standard Chartered Bank to conduct feasibility studies for potential projects in the Clark Freeport Zone in Pampanga and New Clark City in Tarlac. Under the partnership, Standard Chartered may recommend financing solutions and other forms of support for projects found to be feasible and viable. It may also negotiate with the BCDA on appropriate agreements and modes of collaboration for their implementation. “Having the backing of a leading international bank like Standard Chartered adds credibility to BCDA’s projects and marks a strong vote of confidence for Clark,” BCDA president and chief executive officer Joshua Bingcang said in a statement released Wednesday. “More importantly, partnerships like this can help mobilize the capital needed to move viable projects forward. This can ease the financing burden on the government and our private sector partners, while allowing us to pursue more projects that can generate investments, create jobs, and strengthen our communities,” he added. The Clark Freeport and Special Economic Zone covers 35,300 hectares and includes the Clark Freeport Zone, Clark Aviation Capital, Clark International Airport and New Clark City. “Clark is well-positioned to contribute to the Philippines’ next phase of growth,” Standard Chartered Bank Philippines chief executive officer Michelangelo Kho Samson said. “We look forward to collaborating with BCDA to advance its sustainable development ambitions,” he added. The BCDA is mandated to help strengthen the Armed Forces of the Philippines (AFP) by developing former military bases into productive economic centers. It also engages in public-private partnerships to support infrastructure projects, including tollways, airports, seaports and major real estate developments. The agency ended 2025 with P14.1 billion in cash revenues, exceeding its P10-billion target and 20.9% higher than the P11.66 billion recorded in 2024.— MCG, GMA News