PH, France sign P14B deals for financial inclusion and infra projects

The Philippines and France have signed two credit facility agreements totaling €250 million to boost financial services for vulnerable sectors and increase private sector involvement in infrastructure projects.

The agreements, worth €100 million for the Inclusive Finance Development Program (IFDP) and €150 million for the Expanding Private Participation in Infrastructure Program (EPPIP), are co-financed with the Asian Development Bank (ADB).

The IFDP aims to expand financial services to small entrepreneurs, farmers, fisherfolk, women, and other vulnerable groups, while also improving the regulatory environment and capacity of financial institutions.

A separate €1.5 million Technical Assistance (TA) program, in partnership with the Bangko Sentral ng Pilipinas (BSP) and the Rural Bankers Association of the Philippines (RBAP), will support the digital transformation of the country's financial institutions.

The EPPIP is designed to encourage more private sector investment in infrastructure, aligning with the government's 'Build, Build, Build' program to stimulate economic recovery and job creation.