Metro Manila (CNN Philippines, May 3) — The United States said its Trade and Development Agency will launch new infrastructure activities this year intended to leverage over $3 billion in public and private financing to boost infrastructure development in the Philippines.
In a fact sheet on the May 1 bilateral meeting of President Ferdinand Marcos Jr. and his US counterpart Joe Biden, the White House said the two leaders agreed to beef up economic ties, including investments in sustainable and high-quality infrastructure.
According to the US, the expected multibillion funding will strengthen the Philippines’ critical mineral supply chains, as well as advance smart grid technologies and clean energy solutions.
It is also seen to help promote secure 5G deployment in the country, strengthen airport security and maritime safety, and support healthcare infrastructure.
Meanwhile, the White House said the US Agency for International Development will also forge a new partnership with the Philippines to support the construction of railways, ports, and transport systems.
