After securing a grant for a feasibility of the country’s first off-shore wind farm, the Philippines will soon get another grant for the processing of nickel ore through a partnership with an American company seen to highlight the push for investments in green metals.
In a statement, the Department of Trade and Industry said the US firm, which owns patents in the manufacture of batteries, supplies US military and critical industries including hyperscaler data centers, renewable energy projects, and long-haul trucking companies.
There were no other details but the Philippines believes US Trade and Development Agency grants can be replicated and expanded through the Indo-Pacific Economic Framework for Prosperity (IPEF).
During the ministerial meeting of the IPEF held early this month, the Philippines said the US can consider IPEF as an avenue to provide preferential treatment or equitable access to trade for partner countries.
Such assistance may be in the form of grants, subsidies, or procurement opportunities that support or complement industry development initiatives of developing partner countries in the IPEF.
At the conference, the Philippines highlighted more investment opportunities in processing facilities for green metals such as nickel, cobalt, and copper, as well as funding for other non-fossil-based energy sources
Ahead of the conference, the DTI expressed of its appreciation to IPEF Upskilling Initiative in which 14 of the largest US digital companies such as Apple, American Towers, and Amazon will provide digital skills training to seven million women and girls in less-developed IPEF parties including the Philippines.
Together with other IPEF partners, the Philippines endorsed the ministerial statements on Trade, Supply Chains, Clean Economy, and Fair Economy upon conclusion of the first official in-person Ministerial Meeting on September 9.
