The Philippines’ Department of Finance and the Australian government have launched the AUD 45 million, approximately PHP 2 billion, Promoting Growth, Resilience, Economic Stability, and Sustainability in the Philippines program. The grant-funded initiative puts into operation an agreement signed in March and will support reforms to improve the business environment, attract investment and strengthen the government’s capacity to deliver sustainable and inclusive growth. The program will target unnecessary regulatory barriers, policy unpredictability and business costs, while supporting reforms in clean energy and critical minerals. It will also help advance Luzon Economic Corridor projects through project preparation, streamlined approvals, public-private partnerships and blended finance. The work builds on existing measures covering strategic investment approvals, public-private partnerships, land and right-of-way rules, and the digitalization of government processes.
2026-09-22Department of Finance (Philippines)
Philippines’ Department of Finance launches AUD 45 million economic reform program with Australia
The Philippines’ Department of Finance and Australia have launched an AUD 45 million, approximately PHP 2 billion, program to improve the business environment and support economic reforms. It will address regulatory barriers and business costs while helping advance clean energy, critical minerals and Luzon Economic Corridor projects.