President and Chief Operating Officer Gisela Z. Kalalo and Standard Chartered Bank Head of Financial Institutions Tet Sangil serve as witnesses.
The Bases Conversion and Development Authority (BCDA) and Standard Chartered Bank, the oldest international bank in the Philippines, have signed a memorandum of understanding (MOU) to explore collaboration opportunities to promote innovative and sustainable development of Clark Freeport Zone in Pampanga and New Clark City in Tarlac.
On Thursday, 03 September 2026, BCDA President and Chief Executive Officer Joshua M. Bingcang and Standard Chartered Bank Philippines Chief Executive Officer Michelangelo Kho Samson signed the agreement covering the conduct of joint studies evaluating urban development and investment opportunities in the Clark Freeport and Special Economic Zone.
Under the exploratory agreement, both parties intend to share knowledge, hold regular quarterly discussions, and perform feasibility evaluations to advance potential project opportunities.
At the conclusion of the feasibility studies, Standard Chartered may recommend financing solutions and other forms of support for projects deemed feasible and viable. The bank may then negotiate with BCDA an appropriate agreement and mode of collaboration for the project.
“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,” said Engr. Bingcang. “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.”
Ultimately, the partnership aims to sustain Clark’s growth momentum, enhance its competitiveness as a premier investment destination, and contribute to the development of the Luzon Economic Corridor.
“Clark is well-positioned to contribute to the Philippines’ next phase of growth,” Samson said. “Standard Chartered Bank has been in the Philippines for 154 years and isinstrumental in supporting nation-building by providing banking solutions to fund projects in infrastructure, power, water and technology to both the public and private sector. This is aligned with the BCDA’s charter to commercialize the government bases to promote economic and social development. We look forward to collaborating with BCDA to advance its sustainable development ambitions,” he added.
The 35,300-hectare Clark Freeport and Special Economic Zone bring together the Clark Freeport Zone, Clark Aviation Capital, Clark International Airport, and New Clark City, forming a strategic corridor for investment and economic growth.
With its strategic location, world-class infrastructure, expanding connectivity, and huge pool of talents, the ecozone is emerging as a major investment and innovation hub in the Philippines. Its continued transformation is opening new opportunities across industries, from semiconductors and advanced manufacturing, to aviation, logistics, and sustainable urban development.