Philippines secures up to £5 billion UK export finance for priority projects
The Philippines and the United Kingdom signed a government-to-government partnership on Friday that unlocks up to £5 billion (approximately PHP419.90 billion) in UK Export Finance support for priority programmes and…
Source: Philippines Department of Finance · September 23, 2026 at 4:01 PM · AI-assisted report
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MANILA, 24 SEPTEMBER 2026 —
The Philippines and the United Kingdom signed a government-to-government partnership on Friday that unlocks up to £5 billion (approximately PHP419.90 billion) in UK Export Finance support for priority programmes and projects, the Philippine Department of Finance said.
Market Impact
UK Trade Minister Lord Anas Sarwar, UK Ambassador Sarah Hulton OBE, and Finance Secretary Frederick D. Go finalised the arrangement, which creates a framework for financial and development cooperation between the two countries.
“This Government-to-Government Arrangement gives us a practical framework for financial and development cooperation. Ultimately, this partnership must translate into jobs, stronger businesses, better infrastructure, and broader opportunities for Filipinos,” Go said in a statement.
The agreement arrives as the Philippines transitions to upper middle-income country status, a phase the Department of Finance said requires sustained productivity and investment, more and better jobs, stronger economic resilience, and inclusive growth.
Sarwar said the partnership delivers on the UK’s recently published G2G strategy, building modern trade relationships that yield tangible economic benefits — jobs and growth — in both countries. “This G2G is a route for the Philippines to access UK expertise, goods, services and financing; and for British businesses to partner with the Philippines and participate in future projects,” he said.
Both governments will now focus on identifying and advancing strategic, viable projects aligned with the Philippines’ development agenda, the department said. Discussions on potential projects had already begun through the Infrastructure Sectoral Working Group of the Philippines–UK Joint Economic and Trade Committee.
Priority areas for cooperation include energy transition, sustainable transport, water and sanitation, aviation, and social infrastructure, according to the department.
The UK’s new membership in the Luzon Economic Corridor adds a further dimension. The department said the corridor can now bring together financing, technical expertise, and private-sector investment to strengthen connectivity, energy systems, digital infrastructure, and advanced manufacturing supply chains across Luzon.
The signing coincides with the 80th anniversary of diplomatic relations between the Philippines and the United Kingdom. Go reaffirmed the Philippines’ commitment to translating the arrangement into tangible outcomes for the people.