Top US diplomatic and defense officials on Tuesday officially announced that Washington DC will allocate US$500 million (about PHP29.3 billion) worth of aid to the ongoing modernization program of the Armed Forces of the Philippines (AFP) and the Philippine Coast Guard (PCG).
US pledges $500 million military aid package for Philippines
U.S. Secretary of State Antony Blinken and Defense Secretary Lloyd Austin III made the announcement during the 2+2 ministerial meeting with their Philippine counterparts, Foreign Secretary Enrique Manalo and Defense Secretary Gilberto Teodoro Jr., at Camp Aguinaldo, Quezon City.
“We are now allocating an additional $500 million in foreign military financing (FMF) to the Philippines to strengthen security cooperation with our oldest treaty ally in the region,” Blinken said.
The top US diplomat also described the grant as “new steps to strengthen the alliance, a one-time investment to modernize the AFP and PCG”.
