MANILA, Philippines - The Australian government is extending funding to the Philippines to support the Public Private Partnership (PPP) program, education as well as health in line with strengthening economic cooperation between two countries.
Speaking at the joint membership meeting of the Makati Business Club, Philippines Australia Business Council, Australia Philippines Business Council, and Australian – New Zealand Chamber of Commerce Philippines, Australian Minister for Foreign Affairs Julie Bishop said they are providing A$170 million to the country to fund programs on infrastructure and education.
She said the Australian government is providing a further $2.5 million to support the PPP program, which would bring Australia’s total contribution to the PPP fund to $30 million.
“Through leveraging public funds, we hope the Philippines will be able to build infrastructure for the future,†she said.
The PPP Center has a Project Development and Monitoring Facility, which funds the preparation of pre-feasibility and feasibility studies, project structuring, as well as preparation of bid documents and draft contracts for potential PPP projects.
Bishop noted that infrastructure would be necessary to support the country’s economic growth.
Aside from the PPP program, she said, Australia is also providing A$150 million to support the education sector.
In particular, the funding would be used to support teacher training for the K to 12 basic education program and to build 1,000 schools, with half to be put up in areas damaged by Super Typhoon Yolanda.
Bishop said Australia is also providing funds to support health programs.
In the same event, Australian Minister for Trade and Investment Andrew Robb said it is in the interest of Australia to increase trade and investment links with the Philippines.
He noted that a delegation composed of 22 individuals representing different companies in Australia are in the country to explore business opportunities.
“60 percent of them have involvement in the Philippines with some quite substantial. They’re back looking for some more opportunities,†he said.
Given the country’s economic gains and the efforts in improving the business climate, he said investing in the country has been seen to be attractive for firms.
Trade Secretary Gregory Domingo told reporters yesterday the business delegation from Australia is composed of firms engaged in the following sectors: information technology business process management, agriculture, shipbuilding, education, energy as well as mining.
Robb said Australia is also interested to provide assistance in the Philippines in taking advantage of the country’s rich mineral resources.
“Looking at your country, which is endowed with resources, it is not being exploited properly,†he said.
He said the Australian government could send a team of people here who could provide assistance in the development of a framework on responsible mining.
“In Australia, we a have a lot to offer in terms of how we can develop responsible mining,†he said.
“That could be another step of taking advantage of what I think is potentially the greatest strength the Philippines has got,†he added.