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National Blueprint · One of 195

Philippines

An archipelago of 116.8 million where the World Bank committed $1 billion for energy and water security and $600 million for 21 million students in 2026.

Perfect Nations values what Philippines owns and raises capital against it, through innovative financing for development (FfD) and super intelligence (SI).

Philippines at a glance

  • 116.8mPeopleWorld Bank, 2025
  • Furthest from reach · Education91%of Filipino children could not read a simple text by the end of primary school in 2019World Bank, 2019
  • 22Instruments and investments on recordCapital already committed
Work with usRead the Letter to Philippines

What we do for Philippines

Assets. Capital. Solutions.

Perfect Nations is a new-age sovereign advisory firm, and its clients are nations.

  1. 01AssetsThe cupFive sovereign assets, valued, from The People to The Power.
  2. 02CapitalThe laurels22 instruments and investments on record, every one sourced.
  3. 03SolutionsThe seven starsSeven basic standards of living, star by star. Education is furthest from reach today.

The whole logo: a Perfect Nation, where every citizen has all seven basic standards of living, led by good governance.

01Assets · The cup · Sovereign Assets

Five assets no balance sheet counts.

Each is owned today, earns today, and can carry Philippines toward seven basic standards of living for every citizen.

  • 116.8mCitizens, 2025

    The People

    56 in every hundred live in towns and cities; the rest live on the land they farm and fish.

  • 42.7%Of land in farms and pasture

    The Land

    The land that feeds the nation, and the first place a citizen dividend can be earned.

  • 24.8%Of land under forest

    The Forest

    Standing forest holds the water, soil and carbon that the world will pay to keep.

  • 4,203 m³Renewable fresh water per person

    The Water

    Enough to supply every home, once it is stored, treated and piped.

  • 22.6%Of energy from renewables, 2021

    The Power

    Sun, wind, water and biomass already carry part of the load; the rest is the opportunity.

Every figure, with its sourceThe Sovereign Assets ledger

02Capital · The laurels · Capital Architecture

The Philippines borrows on its reforms, and the world lends. Next, every child reading by ten.

Bonds, guarantees, swaps and loans that raise capital against what Philippines owns, every line sourced.

Capital Architecture

The record in figures

  • P19.07TTotal outstanding national government debt at end-June 2026: domestic debt P12.84 trillion (67.33%), external debt P6.23 trillion (32.67%)Bureau of the Treasury, 2026
  • $1.5BADB crisis financing through the Countercyclical Support Facility, approved 24 September 2026, to protect families from rising pricesADB, 2026
  • $1.02BSecond Energy Transition and Climate Resilience Development Policy Loan: $1 billion IBRD loan and a $20 million grant, approved June 2026World Bank, 2026
  • $1BSustainable Agricultural Transformation, a results-based programme for at least five million farmers, approved March 2026World Bank, 2026
  • $600MLearning Upgrade Support and Decentralization (PLUS-D): reading and mathematics for 21 million learners, approved April 2026World Bank, 2026

Capital already committed

  • GovernmentPricedRetail Treasury Bonds, Tranche 32 (RTB-32)P84.87B

    Rate-setting auction 29 September 2026 · 6.875% a year · 2½ years · Offer 29 September to 7 October 2026 · Issue date 12 October 2026

    Awarded at the rate-setting auction; the final total is not yet on a Treasury page

    Peso bonds sold by the Bureau of the Treasury to Filipino savers and institutions, at 6.875% a year for two and a half years. The rate-setting auction awarded PHP 84.87 billion before the offer opened to retail investors.

    Bureau of the Treasury

    Source
  • GovernmentPricedUS dollar global bonds, 5.5-year, 10-year and tap of 2051$2.5B

    Priced 17 June 2026 · $550 million 5.5-year at 4.699% · $1.65 billion 10-year at 5.355% · $300 million tap of the 2051 bonds at 5.850% · Settlement 24 June 2026

    Upsized from $2.0 billion; 4.4 times oversubscribed

    A three-tranche dollar bond, upsized from $2.0 billion to $2.5 billion after the order book reached 4.4 times the amount. The Republic is using the proceeds for general budget financing.

    Republic of the Philippines

    Source
  • GovernmentPricedUS dollar global bonds, 5.5-year, 10-year and 25-year$2.75B

    Priced 21 January 2026 · 5.5-year at Treasuries plus 50 basis points · 10-year at Treasuries plus 80 basis points · 25-year at 5.750% · Settlement 27 January 2026

    Equivalent to $2.75 billion; tranche sizes not stated in the release

    A three-tranche dollar bond equivalent to $2.75 billion. The proceeds are for the general purposes of the Republic, including budgetary support.

    Republic of the Philippines

    Source
  • MultilateralApprovedPhilippines Accelerated Water and Sanitation Project in Selected Areas (AWSPSA)$268.6M

    Approved 31 July 2026 · Total project cost $268.62 million · World Bank $250.87 million

    Of which $250.87 million from the World Bank; the rest from the Government and private-sector equity

    A World Bank Group project to expand resilient water and sanitation services on Bohol, Siargao and Jolo, areas the release calls vulnerable. It serves the water and shelter standards.

    World Bank

    Source
  • MultilateralApprovedSecond Energy Transition and Climate Resilience Development Policy Loan$1.02B

    Approved 25 June 2026 · $1 billion IBRD loan · $20 million performance-based grant from the Livable Planet Fund

    $1 billion IBRD loan and a $20 million grant

    Budget support for reforms that make the renewable energy market fully operational, plan electric vehicle charging and launch a first offshore wind auction, and for cost-recovery water tariffs and bulk water pricing rules. It continues the $800 million operation of March 2025 and serves the energy and water standards.

    World BankLivable Planet Fund

    Source
  • MultilateralApprovedProject for Learning Upgrade Support and Decentralization (PLUS-D)$600M

    Approved 3 April 2026 · Kindergarten to Grade 10 and the Alternative Learning System

    Reading and mathematics for 21 million learners

    Raises reading and mathematics in public schools from kindergarten to Grade 10 and in the Alternative Learning System, for 21 million learners. It is aimed at the education standard, which sets Coverage for the Philippines.

    World Bank

    Source
  • MultilateralApprovedPhilippines Sustainable Agricultural Transformation Project (PSAT)$1B

    Approved 27 March 2026 · Program-for-Results

    At least five million farmers

    A results-based programme for the agriculture sector, with funds released as agreed results are achieved. At least five million farmers are expected to benefit, which serves the food and livelihood standards.

    World Bank

    Source
  • MultilateralApprovedPhilippines Growth and Jobs Development Policy Loan$800M

    Approved 12 March 2026 · Development policy loan

    Fiscal, investment and skills reforms

    Budget support for revenue and spending reforms, private investment and innovation, and reforms in skills, education and innovation. Skills and a stronger fiscal base serve the education and livelihood standards.

    World Bank

    Source
  • MultilateralApprovedFirst Energy Transition and Climate Resilience Development Policy Loan$800M

    Approved 31 March 2025 · Development policy loan

    Clean energy, electricity markets and water management

    Budget support for reforms that scale up clean energy technologies, make electricity markets more secure, flexible and competitive, and improve water management. The $1 billion loan of June 2026 continues the series.

    World Bank

    Source
  • RegionalApprovedAssistance for Greater Resilience and Alleviation of Poverty program$1.5B

    Approved 24 September 2026 · Countercyclical Support Facility · Finances the Unified Package for Livelihoods, Industry, Food, and Transport

    Crisis financing to protect families from rising prices

    ADB crisis financing to help the Philippines protect families from rising prices. It supports fuel supplies, affordable power and health services, food and medicine costs, income support, and the return of affected overseas Filipino workers, so that the food, energy, health and livelihood standards hold through a price shock.

    Asian Development Bank

    Source
  • RegionalApprovedMarine Ecosystems for Blue Economy Development Program, subprogram 1$500M

    Approved 11 December 2025 · Policy-based loan · AFD and KfW to cofinance up to €200 million each

    Ocean and coastal reforms

    Supports reforms for the sustainable management of the Philippines’ ocean ecosystems and a climate-resilient, low-carbon blue economy. Healthy coasts and fisheries serve the food and livelihood standards for coastal families.

    Asian Development Bank

    Source
  • RegionalApprovedBusiness Environment Strengthening with Technology Program (BEST), subprogram 1$400M

    Approved 10 December 2025 · Policy-based loan

    Faster permits and digital services for business

    Supports reforms that streamline regulatory requirements for businesses, speed up permits and licences, and deliver government services to businesses online, with a database of business regulations. A simpler business climate serves the livelihood standard through private jobs.

    Asian Development Bank

    Source
  • RegionalApprovedReducing Food Insecurity and Undernutrition with Electronic Vouchers Project$400M

    Approved 13 August 2025 · Supports the Walang Gutom (Zero Hunger) Food Stamp Program · Cofinanced by AFD (€200 million) and the OPEC Fund ($150 million)

    Electronic food vouchers for 750,000 food-insecure households

    Expands the Walang Gutom (Zero Hunger) Food Stamp Program, which gives electronic food vouchers to food-insecure households across the country. It finances the food standard directly.

    Asian Development BankAgence Française de DéveloppementOPEC Fund

    Source
  • RegionalApprovedMalolos–Clark Railway Project, tranche 2$1.45B

    Approved 16 April 2025 · Second and final tranche of a multitranche financing facility · Tranche 1, $1.3 billion, 2019

    53.1 km of the 163-km North–South Commuter Railway

    Finances the 53.1-kilometre Malolos–Clark segment of the 163-kilometre North–South Commuter Railway, with JICA supplying the rolling stock and railway systems. Commuter rail widens access to work and services, which serves the livelihood standard.

    Asian Development BankJICA

    Source
  • BilateralSignedMetro Manila Subway Project (Phase 1) (IV)JPY 220B

    Signed 27 March 2026, Manila · 0.8% a year · 40 years, including 10 years’ grace

    Yen loan for civil works, systems and 240 train cars

    A Japanese loan for civil works, the depot and the Philippines Railway Institute, the railway system and 240 train cars for the Metro Manila Subway. Mass transit widens access to work, schools and hospitals.

    JICA

    Source
  • BilateralSignedMetro Rail Transit Line 3 Rehabilitation Project (III)JPY 21.63B

    Signed 3 March 2026, Manila · 0.80% a year · 40 years, including 10 years’ grace

    Loan of 21,634.83 million yen

    A Japanese loan for the rehabilitation and maintenance of MRT Line 3 in Metro Manila: rolling stock, track, signalling, power systems and stations, with spare parts and maintenance services. Reliable commuter rail serves the livelihood standard.

    JICA

    Source
  • BilateralSignedLaguna Lakeshore Road Network, Phase 1 Stage 1$905.26M

    Loan agreement exchanged 17 January 2025 · Civil works by the Department of Public Works and Highways · Completion anticipated by 2029

    Korea’s loan for the first stage of the road network

    A loan from the Export-Import Bank of Korea for the first stage of the Laguna Lakeshore Road Network. The Department of Public Works and Highways slated construction to start in 2025, with completion anticipated by 2029.

    Export-Import Bank of Korea

    Source
  • PrivateSignedICTSI container terminals loan$300M

    Signed, announced 20 May 2026 · Senior unsecured corporate loan · AIIB’s first non-sovereign-backed transaction in the Philippines

    Manila, Batangas and Mindanao container terminals

    AIIB lending to International Container Terminal Services Inc. for port connectivity and a green transition at the Manila International Container Terminal, the South Luzon Container Terminal in Batangas and the Mindanao Container Terminal. Port capacity carries the food and goods trade on which the livelihood standard depends.

    Asian Infrastructure Investment Bank

    Source
  • PrivateInvestedOnePuhunan, senior loan$20M

    Approved 25 February 2026 · Signed 12 March 2026 · Invested 20 April 2026 · Three years · Up to $40 million more to be mobilized

    On-lending to women microentrepreneurs in rural areas

    An IFC loan to a microfinance institution for on-lending to women-owned or women-led microenterprises in rural Philippines, within a facility of up to $60 million. It finances the livelihood standard directly.

    IFC

    Source
  • PrivateSignedFuse Financing (GCash), small business loan$30M

    Signed 6 February 2026 · Lending arm of the GCash e-wallet · 60% for women-owned businesses

    Digital credit for micro, small and medium enterprises

    An ADB loan to Fuse Financing Inc., the lending arm of GCash, the Philippines’ largest e-wallet provider, to widen credit for micro, small and medium-sized enterprises. Fuse will allocate 60% of the proceeds to women-owned businesses, which serves the livelihood standard.

    Asian Development Bank

    Source
  • PrivateInvestedMaynilad Water Services, IPO cornerstone investment$145M

    7 November 2025 · In peso equivalent · $100 million from ADB’s ordinary capital and $45 million from LEAP 2 · One of two lead cornerstone investors

    Metro Manila’s West Zone and parts of Cavite, about 10.5 million people

    ADB’s equity investment in Maynilad’s initial public offering on the Philippine Stock Exchange, to expand and modernise water and wastewater infrastructure: treatment capacity, lower water losses, pipelines and sewer lines. It serves the water and shelter standards.

    Asian Development Bank

    Source
  • PrivateInvestedMaynilad Water Services, IPO cornerstone investment$100M

    7 November 2025 · Cornerstone investor in the initial public offering

    The largest water concession in the Philippines and Southeast Asia

    IFC’s equity investment in Maynilad’s initial public offering. The proceeds fund Maynilad’s capital expenditure, including wider wastewater coverage, which serves the water and shelter standards.

    IFC

    Source

The Philippines Newswire

The Solutions Wire
Isabel Santos, Nation Steward of Philippines

Isabel SantosNation Steward of Philippines · SI Researcher

Already working in Philippines.

Independent firms and social enterprises already at work in Philippines, highlighted by Perfect Nations. None is a partner of Perfect Nations.

Suggest an enterprise
  • Water

    Maynilad Water Services

    The operator of the largest water concession in the Philippines and Southeast Asia, serving Metro Manila’s West Zone and parts of Cavite, an estimated 10.5 million people. ADB ($145 million) and IFC ($100 million) were cornerstone investors in its initial public offering in November 2025.

    ADB, 2025
  • Shelter

    Lhoopa

    Acquires, renovates, builds and sells affordable homes, mainly to middle-income workers such as drivers and teachers, at an average price of Php 850,000 (about $15,000). ADB signed a loan of up to $20 million in March 2024 to help it deliver more affordable housing.

    ADB, 2024
  • Energy

    ACEN Corporation

    An energy company of the Ayala group. In December 2023 ADB and ACEN signed a sustainability-linked loan of up to Php5.5 billion (about $100 million) for solar generation of at least 450 gigawatt-hours a year, replacing power from divested coal plants.

    ADB, 2023
  • Education

    PHINMA Education

    Owns and operates seven schools across the Philippines for underserved youth. In February 2020 Kaizenvest, FMO and ADB joined a ₱1.875 billion partnership to fund the acquisition and operation of more schools.

    PHINMA, 2020
  • Health

    AC Health

    Runs Generika drugstores, Healthway clinics and QualiMed hospitals. In November 2021 IFC invested $100 million in a 10-year social bond of the Ayala group that refinanced a new cancer hospital and the expansion of AC Health’s clinics.

    IFC, 2021
  • Livelihood

    OnePuhunan

    A microfinance institution lending to women microentrepreneurs in rural areas. IFC invested a three-year loan of $20 million in April 2026, within a facility of up to $60 million.

    IFC, 2026

03Solutions · The seven stars · Perfect Capita

Perfect Philippines, star by star.

Perfect Capita is the yearly cost, per person, of lifting everyone above the Living Line in all seven basic living standards, set with Philippines in its own prices.

How Perfect Capita works
Philippines: the seven stars of the logo, one for each basic standard of living, rising from the cup; Food is the larger centre star. Each star carries the figure for Philippines.WATER48.5%SHELTER62.2%ENERGY64FOOD67.3%EDUCATION9.1HEALTH69LIVELIHOOD41.3%
9.1
Education · furthest from reach9.1% of children read a simple text by the end of primary school; 2019, datedWorld Bank, 2019

Tap a star for its figure and source.

The price of Perfect Philippines

To be set with Philippines, from its own figures and in its own prices: Perfect Capita times the people of Philippines, each year.

Read more

Perfect Nations estimate, to be confirmed with Philippines. Figures marked dated rest on surveys more than five years old; lenient measures are marked as such. The strict measures

Strict measures. Food: share not moderately or severely food insecure (FAO). Water: safely managed drinking water where measured; where it is not, basic water, marked as such. Shelter: the lower of safely managed sanitation and the share outside urban slums. Energy: the lower of electricity per person against 1,000 kWh and clean cooking. Education: the lower of children reading by the end of primary school and lower-secondary completion. Health: WHO service coverage index. Livelihood: share above the stricter of the national poverty line and the World Bank line for the nation’s income group. Each figure links to its source.

Solutions for Perfect Philippines

All Solutions

  • Solution No. 26

    The Archipelago Reading Bond

    Filipinos at home and abroad buy a reading bond by phone, in small amounts.

    • 01The challenge91% of Filipino children could not read a simple text by the end of primary school in 2019.
    • 02What Perfect Nations advisesThe Philippines should sell a reading bond to Filipinos at home and abroad through mobile wallets, in small amounts, to finance tutors and books for the children furthest behind. With super intelligence, every pupil can have a reading tutor on a phone in Filipino, English or the language spoken at home, and every school’s progress can be seen in real time.

    91%of Filipino children could not read a simple text, 2019

    FromPreeti SinhaPresident and CEO, Perfect NationsRead the SolutionDiscuss this Solution
Philippines in Bloom, nation portrait of Philippines
Philippines in BloomNation Portrait · Art of Nations
Perfect Nations® · Letters to the NationsPhilippines

Dear Philippines,

A golden sun with eight rays for the eight provinces that first rose for freedom, and three stars for your islands.

Read more

Your people send home more money than almost any nation’s, and the world’s banks lend to you on your reforms.

“Your people carry the economy across every ocean. Now carry every Filipino child to a confident reader by ten.”

Yours in design,Preeti SinhaPresident and CEO, Perfect NationsRead the full letter

Work with us · The ReDesign Studio

The Perfect Philippines ReDesign Studio

One mission, three depths: the same four moves for Philippines, taken as far toward market as you choose.

Read more

For the Government of Philippines, its development partners and investors. Scope and fees are agreed in writing before any work begins.

  1. 01Identify the assets
  2. 02Estimate Perfect Capita
  3. 03Co-design the capital architecture
  4. 04Launch the instruments

  1. Mandate 013 hours

    The Nation Briefing

    A private session for the people who decide.

    You leave withThe gap, named and sized

    Read more
    1. 01The five sovereign assets on this page, walked through.
    2. 02Coverage of 9.1 and the Gap, explained.
    3. 03The instruments that could close the Gap, shortlisted.
    4. 04The path to market, outlined.
    Request a Nation Briefing

  2. Mandate 023 days

    The Blueprint Lab

    Your team and ours, working the blueprint together.

    You leave withThe structure, drawn

    Read more
    1. 01The ledger tested against your ministries’ own data.
    2. 02Each of the seven standards costed in Filipino prices.
    3. 03One financing structure, drawn with your team.
    4. 04A term sheet and the partners to approach.
    Plan a Blueprint Lab

  3. Mandate 03End to end

    The Sovereign Mandate

    Led personally by the President and CEO.

    You leave withA structure ready for market

    Read more
    1. 01A full sovereign asset ledger, valued and verified.
    2. 02Perfect Capita set and agreed with government, with a monitoring plan.
    3. 03The full structure: legal form, credit enhancement, guarantees and pricing.
    4. 04Taken to investors and development partners, through to close.
    Discuss a Sovereign Mandate

Co-design it with us

Where Filipinos and Co-designers design the nation they want to live in.

  • Writings

    Write Perfect Philippines into being.

    Up to 1,500 words on your vision of Perfect Philippines, published with your name.

    Submit your writing

  • Voices of Perfect Nations Launching soon

    The local leaders already building Perfect Philippines.

    Great local leaders: honest, dedicated and committed to basic standards of living for all. Every guest answers one question: “What does Philippines already own, and how could it pay for a decent life for every citizen?”

    Nominate yourselfSuggest a guest

  • Co-designers

    Join the community.

    Everyone who shares a vision, a voice or an enterprise here becomes a Co-designer of Perfect Philippines.

    Become a Co-designer

The Philippines ReDesign Studio is open

Design Perfect Philippines with us.

Share your vision, suggest a guest, or write to us: every message receives a personal reply.

Enter the ReDesign StudioWrite to usAll 195 nations
Sources
  1. World Bank, World Development Indicators: population 2025, urban share, agricultural and forest land, renewable fresh water per person and renewable energy share, read 30 October 2026.
  2. Strict Perfect Capita inputs: FAO food insecurity, WHO/UNICEF water and sanitation, World Bank clean cooking, learning poverty and poverty lines, UNESCO completion and the WHO service coverage index (2023, via Our World in Data).
  3. International Monetary Fund and World Bank press releases for each line of Capital already committed, as linked.
Philippines in Bloom, flag edition: the nation portrait of Philippines painted with its flag
Philippines in BloomNation Portrait, flag edition · Art of Nations
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