The United States has pledged to bolster its infrastructure development aid to the Philippines by providing over USD 3 billion (PHP 166.8 billion) in public and private financing. This substantial funding will be dedicated to supporting the construction of high-quality transport systems in the country. The commitment was made following a bilateral meeting between President Ferdinand “Bongbong” Marcos Jr. and US President Joe Biden in May 2023, as outlined in a fact sheet released by the White House.
The initiative will be spearheaded by the US Agency for International Development (USAID), which aims to establish a new partnership to scale up infrastructure development in the Philippines. The focus will be on the construction of modern railways, ports, and transport systems. Additionally, the US Trade and Development Agency (USTDA) plans to launch sustainable infrastructure activities throughout 2023.
The collaboration seeks to strengthen critical mineral supply chains, advance smart grid technologies and clean energy solutions, promote secure 5G deployment, enhance airport security and maritime safety, and provide support for healthcare infrastructure across the Philippines. Both leaders expressed their commitment to expanding air connectivity and modernizing the bilateral aviation relationship, recognizing the positive impact this would have on economic ties and people-to-people connections.
(Source: Inquirer)
