UK opens ₱420-B financing window for Phl

Up to ₱419.9 billion in export financing is being made available to the Philippines as the United Kingdom and the Marcos administration deepen cooperation on major infrastructure and economic projects.

The Department of Finance (DOF) said the two countries have signed a government-to-government (G2G) partnership that will allow UK Export Finance (UKEF) to consider financing support for eligible Philippine projects.

The potential financing could cover priority areas such as energy transition, sustainable transport, water and sanitation, aviation and social infrastructure.

“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,” DOF Secretary Frederick Go said.

“Ultimately, this partnership must translate into jobs, stronger businesses, better infrastructure, and broader opportunities for Filipinos.”

The agreement was signed by UK Trade Minister Lord Anas Sarwar, UK Ambassador Sarah Hulton OBE and Go as the Philippines moves toward upper middle-income country (UMIC) status.

The DOF said the country’s transition to the next stage of development will require sustained productivity and investment, more and better-paying jobs, stronger economic resilience and broader-based growth.

Under the new arrangement, the Philippines and the UK will identify and pursue “strategic and viable projects” aligned with the country’s development priorities.

Potential projects are already being discussed through the Infrastructure Sectoral Working Group (SWG) of the Philippines–UK Joint Economic and Trade Committee (JETCO), which held its second meeting on Sept. 22.

UKEF, the UK’s official export credit agency, provides export credit facilities, guarantees, sovereign finance and blended financing, as well as official development assistance.