Finance Secretary Ralph G. Recto has emphasized the transformative potential of the new Government-to-Government (G2G) agreement between the Philippines and France. Signed on June 7, 2024, this agreement aims to drive innovative projects focused on poverty alleviation and inclusive growth.
The agreement facilitates financial cooperation, enabling the Philippines to access French commercial support and secure funding for projects in agriculture, water sanitation, energy, infrastructure, maritime, mining, and transport. This initiative reflects a mutual commitment to sustainable development and economic progress.
Through the Agreement on Financial and Development Cooperation, the Philippines will receive concessional official development assistance (ODA) and blended financing from France. France has also pledged support for the Philippines’ Build Better More program.
(Source: CCI – France Philippines, Department of Finance, Philippines)
