THE Philippines is set to secure concessional official development assistance and blended financing from France for its priority projects and programs through a signed government-to-government agreement.
In a statement, Finance Secretary Ralph Recto said the financial and development cooperation agreement between France and the Philippines would introduce innovative projects to reduce poverty and promote inclusive growth for all Filipinos.'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,' he added.
Recto said that the agreement was 'more than just a financial partnership,' as this asserts an 'uninterrupted delivery' of programs and projects that will benefit all Filipinos.'With the agreement now in place, we anticipate strengthened cooperation with France across high-impact sectors crucial to our country's development.'These sectors include agriculture, agro-industry, mining, water sanitation, infrastructure, transportation and renewable energy.
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