- Feb 22, 2017
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U.S. to boost Philippine defense capability with $500m investment
Hopes for bilateral intelligence-sharing agreement to be finalized by end of 2024
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The U.S. announced on Tuesday an investment of $500 million to finance the Philippines' ongoing defense upgrade program, supporting in part efforts to counter China's maritime aggression in the South China Sea.
The investment was announced at the two-plus-two talks held on Tuesday between the defense and foreign ministers of the Philippines and the U.S. The meeting is the fourth of its kind, but the first to be held in the Philippines, and comes at an opportune time for the country's diplomacy, after similar talks were held with Japan earlier this month.
"We're working with the U.S. Congress to allocate $500 million in foreign military financing into the Philippines," said U.S. Defense Secretary Lloyd Austin. "This level of funding is unprecedented."
I wonder if Congress will approve it.