US Secretary of State Antony Blinken and Defense Secretary Lloyd Austin III yesterday made the announcement at a press conference after meeting with Foreign Affairs Secretary Enrique Manalo and Defense Secretary Gilbert Teodoro Jr. for their 2+2 Ministerial Dialogue held for the first time in Manila.
"Our armed forces are working on more shared priorities in more places than ever before. We are now allocating additional $500 million in foreign military financing to the Philippines to boost security collaboration with our oldest treaty ally in this region, to strengthen the alliance," Blinken said.
Austin said the US and the Philippines are working to advance a shared vision of a free and open IndoPacific and taking bold steps together to strengthen their alliance.
"Today, as you heard, Secretary Blinken and I announced we are poised to deliver our once in a generation investment to help modernize AFP and the PCG," Austin said.
"We are working with US Congress to allocate $500 million in FMF to the Philippines and this level of funding is unprecedented and it sends a clear message of support for the Philippines from the Biden administration, the US Congress and the American people," he added.
The US is also doubling investments in Enhanced Defense Cooperation Agreement (EDCA) sites.
"We also reaffirmed Department of Defense intends to more than double our investments in EDCA locations across the Philippines," Austin said.
US President Joe Biden's request this year includes more than $128 million for funding key EDCA projects.
Austin noted that the "US government investment in the locations extends beyond the DND," citing USAID plans to preposition disaster relief supplies in EDCA locations later this year.
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