MUFG open to financing PH nuclear projects backed by Japan

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MANILA, Philippines – MUFG Bank Ltd. is open to financing nuclear energy projects in the Philippines, should the country pursue them as part of its energy diversification strategy, provided that the Japanese government and Japanese developers support them.

At a media briefing, MUFG managing director Colin Chen said the bank, Japan’s largest, would follow the Japanese government’s lead on nuclear energy even as it continues to support the Philippines’ renewable energy transition.

READ: PH is ready for responsible nuclear energy use – Dy

“The answer is yes, we are, but under certain circumstances,” Chen said when asked whether MUFG would finance nuclear power projects in the Philippines.