Signed on June 7, 2024, the Agreement on Financial and Development Cooperation facilitates access to concessional official development assistance and blended financing from France.
Recto emphasized that the agreement would catalyze pioneering projects aimed at reducing poverty and fostering inclusive growth. Sectors targeted include agriculture, mining, water sanitation, infrastructure, transportation, and renewable energy.
“With the broad range of development areas covered, this agreement will certainly serve as a key poverty-fighting force that will help us establish a solid foundation for a thriving, inclusive future for Filipinos,” Recto said in a statement.
He thanks the French government for its partnership, highlighting the agreement’s role in achieving economic security.
French Ambassador Marie Fontanel echoed this sentiment, expressing eagerness to enhance bilateral cooperation in defense, energy, and climate change.
The event also featured a ceremonial exchange of diplomatic notes, underscoring the strengthened partnership.
