The Philippines has secured two major packages of support from international partners this week, both aimed at jobs, investment, and infrastructure. The Department of Finance (DOF) launched a program backed by an AUD 45 million grant from Australia, worth about P2 billion. Separately, the government gained access to up to £5 billion, or about P419.9 billion, in financing support from the United Kingdom for priority programs and projects.
The Australian grant funds the Promoting Growth, Resilience, Economic Stability, and Sustainability in the Philippines, or PROGRESS, Subsidiary Arrangement Program. Speaking at a September 22 press conference, Australian Assistant Minister for Foreign Affairs and Trade Matt Thistlethwaite said the grant will run for five years and will not need to be repaid.
“This grant reflects Australia’s continued commitment to our development priorities,” Finance Secretary Frederick Go said during the launch.
PROGRESS will support reforms that remove unnecessary barriers to doing business, make regulations more predictable, and lower operating costs, with clean energy and critical minerals among the priority areas. It will also back the Luzon Economic Corridor, which links development efforts across Subic Bay, Clark, Manila, and Batangas, through project preparation, faster approvals, public-private partnerships, and blended finance. For workers and small businesses, the hoped-for results are more job opportunities and lower costs from simpler rules.
Thistlethwaite said the funding has been allocated, but specific projects and their shares are still being identified. The program builds on existing reforms such as the CREATE MORE Act, Green Lanes for Strategic Investments, and the Public-Private Partnership Code. An earlier DOF announcement said PROGRESS also aims to help small and medium-sized enterprises and to address barriers faced by women, persons with disabilities, and marginalized groups.
The UK arrangement, announced by the DOF on Wednesday, September 23, sets up a government-to-government framework under which financing will flow through UK Export Finance. Possible areas of cooperation include energy transition, sustainable transport, water and sanitation, aviation, and social infrastructure. The deal was finalized by UK Trade Minister Lord Anas Sarwar, UK Ambassador Sarah Hulton, and Secretary Go.
“Ultimately, this partnership must translate into jobs, stronger businesses, better infrastructure, and broader opportunities for Filipinos,” Go said of the UK agreement.
Sarwar said the arrangement would let the Philippines tap British expertise, goods, services, and financing, while also opening doors for UK companies to take part in future Philippine projects.
Both partnerships coincide with the 80th anniversary of diplomatic relations: the Philippines established formal ties with both Australia and the United Kingdom in 1946.
The next step is turning the frameworks into actual projects. The Philippines and the UK will now focus on identifying projects that are both strategic and viable, while Philippine agencies and Australian partners work to translate PROGRESS into specific programs. “We want to have tangible results immediately,” Go said.
Source: Daily Guardian (https://www.dailyguardian.com.ph/blog/australias-aud-45-million-grant-targets-phl-jobs-investment) ; Daily Tribune (https://tribune.net.ph/2026/09/24/philippines-secures-up-to-5-b-uk-financing)
