The Market Monitor Minding the Nation's Business
The Australian Embassy in the Philippines launched on Thursday a five-year development partnership that is set to be implemented nationwide until 2029.
Australian Department of Foreign Affairs and Trade (DFAT) Secretary Jan Adams, together with Australian Ambassador to the Philippines Hae Kyong Yu, officially introduced the Australia-Philippines Development Partnership Plan 2024-2029 during a ceremony in Makati City.
The partnership aims to achieve three key objectives: promoting stability, driving inclusive and sustainable growth, and enhancing institutional and community resilience against social, economic, and climate-related challenges.
“For the first time, we are launching a comprehensive, long-term plan that clearly outlines Australia’s development efforts in the Philippines,” Ambassador Yu remarked in her speech. She noted that the plan was crafted following consultations with 85 government agencies and various organizations.
In a press briefing, Yu disclosed that the Australian government has been providing approximately PHP 4 billion annually in capacity-building and development assistance to the Philippines. She also highlighted that Australia’s private sector would contribute additional investments to support key projects under the partnership.
Yu added that with the rollout of the Australia-Philippines Development Partnership Plan, this financial commitment is expected to increase.
DFAT Secretary Adams detailed the specific areas of support, including peacebuilding in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), enhancing civil and maritime cooperation, safeguarding the marine environment, and strengthening the Philippine justice system.
“We will deepen our collaboration with the Philippines to foster inclusive and sustainable economic growth. This includes supporting government agencies in implementing key economic reforms and partnering with the Philippines in critical sectors like infrastructure, renewable energy, resources, telecommunications, and digitization. Additionally, we will invest in human capital and skills development, particularly in building skills pathways in secondary education,” Adams stated.
She also emphasized that the partnership will ramp up Australia’s support for climate change initiatives, including adaptation and mitigation efforts.
Adams further assured that the Australian government will maintain its commitment to providing humanitarian aid during crises and will continue working with the Philippines on disaster risk reduction strategies.
National Economic and Development Authority (NEDA) Director-General Joseph Cupino welcomed the partnership, noting that it would accelerate the administration’s Philippine Development Plan. He highlighted that the collaboration with Australia will especially bolster efforts to protect Filipino families from vulnerabilities and expand opportunities for women.