MANILA, Philippines — The United Kingdom has opened access to as much as ₱419.9 billion in export financing to back priority economic initiatives in the Philippines, the Department of Finance (DOF) announced Wednesday.
Through a newly signed government-to-government agreement, UK Export Finance (UKEF) can now extend financial backing to eligible development projects across the country. Targeted sectors for potential collaboration include renewable energy transition, green transportation, aviation, water and sanitation facilities, and social infrastructure.
Finance Secretary Frederick Go emphasized the practical benefits of the framework for national development.
“We are opening new opportunities to bring financing, expertise, and partnership to projects that matter to the Filipino people. This Government-to-Government Arrangement gives us a practical framework for financial and development cooperation,” Go said.
“Ultimately, this partnership must translate into jobs, stronger businesses, better infrastructure, and broader opportunities for Filipinos.”
The accord was executed alongside UK Trade Minister Lord Anas Sarwar and UK Ambassador Sarah Hulton OBE as the Philippines progresses toward upper middle-income status.
According to the DOF, maintaining investment momentum, generating quality employment, building economic resilience, and fostering equitable growth remain paramount as the country transitions into its next economic phase.
Both nations are now working to identify viable, high-impact projects aligned with the Philippine government’s economic pipeline. Preliminary project evaluations are already underway within the Infrastructure Sectoral Working Group under the Philippines–UK Joint Economic and Trade Committee, following its latest meeting on September 22.
As the UK government’s export credit agency, UKEF provides official development assistance, sovereign financing, blended credit facilities, and financial guarantees.