The Philippines Department of Education (¡°DepEd¡± or ¡°Client¡±) currently has a classroom backlog of close to 165;000 classrooms. The shortfall is significant and growing due to constrained government funding; lengthy procurement processes and an increasing student population. DepEd is working towards leveraging PPPs under a scalable model to bring in private sector efficiency and expertise for classroom construction while and also having the benefit of better fiscal sustainability. Previously Dep-Ed undertook PPP -based classroom construction initiatives by way of the PPP for School Infrastructure Project (PSIP) phases I and II (awarded in 2012 and 2013 respectively). PSIP III; involving construction of at least 15;000 classrooms; is currently underway and is targeted for completion in 2027.DepEd is now planning to launch PSIP IV which aims to construct up to 40;000 classrooms (in the Visayas region and in Luzon) under a PPP model; focusing on areas not serviced by PSIP III. DepEd is expected to appoint IFC to provide transaction advisory services for an initial pilot for PSIP IV involving design; finance; building; maintenance and transfer (¡°DFBMT¡±) to deliver a part of the expected classrooms across a certain number of sites (the exact numbers of classrooms and locations is still being finalized) (the ¡°Project¡±).