Australia eyes over P20-B assistance to PH over next 5 years

Australia is set to invest over P20 billion to assist the Philippines in achieving its development goals in the next five years, in line with the Development Partnership Plan launched by the two countries on Thursday.

Under the Australia-Philippines Development Partnership Plan (DPP) 2024-2029, the two countries have committed to working together as part of their common goal of development outcomes that benefit both countries.

According to Australian Ambassador to the Philippines HK Yu, the country has been allocating P4 billion yearly for assistance to the Philippines, including some P3.6 billion in official development assistance (ODA), and this is expected to increase moving forward with the DPP.

"We have been allocating on average more than P4 billion per year just on the bilateral program. The recent trend we have seen in terms of allocation has been for it to go up rather than down. That's what I'm rather expecting for the next five years," she told reporters at a press briefing in Makati City.

The DPP has three major objectives: enhancing stability, boosting inclusive and sustainable economic growth, and increasing institutional and community resilience to social, economic, and climate-related shocks.

Aligned with the Philippine Development Plan 2023 - 2028, the DPP was developed by Australia through consultations with the Philippine government and over 50 stakeholders including civil society organizations, development agencies, the private sector, and academia.

'Where no country dominates'

As part of the objective on enhancing conditions for stability, the DPP will focus on peace-building, civil maritime cooperation, security sector capacity building, and justice, human rights, cyber security, and preventing transnational crime.

Meanwhile, the third objective of boosting inclusive economic growth will focus on strategic economic reform, key economic sectors such as infrastructure and energy transition, and agrifood systems research, among others.

In terms of increasing institutional and community resilience to shocks, the focus will be on disaster and climate resilience, humanitarian assistance, and social protection.

"These are areas where Australia has our own experiences. That doesn't mean we always get it right, but sometimes actually not getting it right can be a very rich experience that can hopefully inform the Philippines on how to do it," Yu said.

"We are very important strategic partners to you who share the same values and broader vision of having a region where no country dominates and no country is dominated," she added.

Full commitment

Yu said Australia has provided some P63-billion worth of assistance to the Philippines over the past 20 years, covering sectors such as law enforcement, customs, immigration.

The two countries had a recorded two-way trade of P378 billion and two-way investment of P321 billion as of 2023. There were also over 250 Australian companies that have invested in the Philippines and employed 44,000 Filipinos as of 2023.

For its part, the National Economic and Development Authority (NEDA) welcomed the continued partnership, as it said this would help the country move forward.

"NEDA is fully committed to collaborating with our Australian counterparts to achieve the DPP's objectives," he said in his recorded message during the DPP launch.

"With our combined efforts, we can create effective solutions that positively impact the lives of many Filipinos," he added. — VDV, GMA Integrated News