ADB Partners with Ayala Corporation to Accelerate Electric Mobility Ecosystem in Philippines

A significant portion of the package includes a concessional loan from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA).

The Asian Development Bank (ADB) has signed a financing package worth up to $100 million to support Ayala Corporation’s initiatives in building an electric mobility (e-mobility) ecosystem in the Philippines. The funding will be allocated to the installation of electric vehicle charging stations (EVCS) and the procurement of electric vehicles (EVs) for commercial use, marking a transformative step towards sustainable transportation in the country.

Blended Financing to Power EV Adoption

A significant portion of the package includes a concessional loan from the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA). This blended financing mechanism integrates innovative pricing to accelerate EVCS deployment. Funds will be used to create a comprehensive EVCS network while acquiring EVs from leading global manufacturers for nationwide distribution.

"This project is a critical milestone for a sustainable, low-carbon future in the Philippines," said ADB Country Director Pavit Ramachandran. "By enabling the growth of a robust e-mobility ecosystem, we address air pollution, enhance energy security, create green jobs, and promote inclusive urban development."

Supporting the Philippines’ EV Industry

The Philippines’ EV sector remains in its early stages, hindered by high costs, limited infrastructure, and evolving technologies. However, government initiatives such as the Electric Vehicle Industry Development Act and various tax incentives are creating a conducive environment for growth.

The EVCS network funded by this initiative aims to bridge infrastructure gaps, encouraging faster adoption of EVs across the country. With ADB’s support, Ayala Corporation—through its subsidiary ACMobility—is set to expand its investments in the e-mobility sector, advancing the Philippines’ climate goals.

"This blended financing aligns with our vision of developing an inclusive and sustainable EV ecosystem," said ACMobility President and CEO Jaime Alfonso Zobel de Ayala. "We appreciate ADB’s partnership as we accelerate e-mobility investments and reaffirm our commitment to climate action and sustainable development."

CANPA’s Role in Supporting Climate Solutions

Established in 2024, CANPA is a trust fund managed by ADB and supported by Can$360 million from the Canadian government. Building on the success of its predecessors, the fund focuses on private-sector projects in Asia and the Pacific that address climate change, promote nature-based solutions, and advance gender equality.

Ayala Corporation’s Leadership in Sustainability

As one of the Philippines’ largest conglomerates, Ayala Corporation has consistently demonstrated its commitment to sustainability. Its diversified portfolio spans real estate, telecommunications, and renewable energy, with a growing emphasis on green investments. By leveraging innovative financing models such as blended finance, Ayala continues to position itself as a leader in driving the nation’s transition to a low-carbon economy.

Transforming the Future of Mobility

The ADB-Ayala partnership is poised to reshape the transportation landscape in the Philippines, providing a blueprint for other countries in the region to follow. With a robust EVCS network and greater access to electric vehicles, the initiative not only paves the way for environmental sustainability but also strengthens the country’s resilience against climate challenges.

This collaboration represents a significant leap forward in achieving the Philippines' climate and sustainability objectives while fostering economic growth and technological innovation.