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U.S. To Support Philippines’ Military Modernization With $500 Million FMF Loan

Matthew Beinart By
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U.S. To Support Philippines’ Military Modernization With $500 Million FMF Loan
Secretary of Defense Lloyd J. Austin III and Secretary of State Antony J. Blinken pose for a photo with Secretary of National Defense of the Philippines Gilberto Teodoro and Secretary of Foreign Affairs Enrique Manalo as part of the fourth U.S.-Philippines Two-Plus-Two Ministerial Dialogue in Manila, Philippines, July 30, 2024. (DoD photo by U.S. Navy Petty Officer 1st Class Alexander Kubitza)

U.S. officials on Tuesday announced plans to provide the Philippines with $500 million in Foreign Military Financing funds to help the country modernize its armed forces and coast guard. Secretary of State Antony Blinken and Defense Secretary Lloyd Austin both described the direct loan as a “once-in-a-generation investment,” which arrives as the U.S. and the Philippines continue expanding cooperation efforts amid growing competition with China. “This is really designed to support the modernization of Filipino forces [and] coast guard as…

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