The Philippines and Denmark signed an agreement to deepen financial and development cooperation, as Manila seeks to attract more overseas capital to help finance infrastructure projects and accelerate its clean energy transition.
Finance Secretary Frederick Go and Danish Ambassador Franz-Michael Skjold Mellbin signed the memorandum of understanding, which establishes a framework for concessional and blended financing to support the Philippines’ priority development programs.
The signing coincides with the 80th anniversary of diplomatic relations between the two countries.
The agreement broadens cooperation in infrastructure, renewable energy, climate action, maritime development and shipbuilding, transportation, agriculture and other strategic sectors, creating opportunities for public and private financing of long-term development projects.
“At the Department of Finance (DOF), we see this partnership as an investment in our future. Our goal is to translate this agreement into concrete projects, stronger investments, and meaningful results that benefit both the Philippines and Denmark,” Go said in a statement.
The partnership comes as the Philippine government expands its search for alternative sources of development financing to sustain infrastructure spending and climate-related investments while maintaining fiscal discipline.
“When we get the framework right, we get the solutions right, and companies are more willing to invest in the Philippines to increase productivity and strengthen the economy’s resilience,” Mellbin said.
