Export Finance Agreement Between the PH and UK in the Works

An export finance agreement between the Philippines and the United Kingdom (UK) is expected to be signed within the next three months, British Ambassador to the Philippines Laure Beaufils announced on Wednesday, April 23. According to the details made available on the agreement, around PHP 375 billion (USD 6.67 billion) shall be made available for the Philippines through bank loans or guarantees to fund the Philippines’ flagship infrastructure projects. The agreement requires 20 percent of the contract value of these projects be sourced from the UK. 

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