The British Chamber of Commerce Philippines (BCCP) has welcomed the signing of a Government-to-Government (G2G) financing framework between the Philippines and the United Kingdom that could provide up to £5 billion in UK Export Finance (UKEF) support for eligible priority infrastructure projects.
Signed on September 23 by UK Minister of State for Trade Lord Anas Sarwar and Philippine Finance Secretary Frederick D. Go, the framework provides a mechanism for both governments to identify and advance strategic and viable projects aligned with the Philippines’ development priorities.
Potential areas include energy transition, sustainable transport, water and sanitation, aviation, social and digital infrastructure, and advanced technology.
BCCP Executive Vice Chairman Chris Nelson described the agreement as an important development that could help advance infrastructure projects in the country.
“The fact we finalized this, I think is a very important development,” Nelson said in an interview, noting that potential projects would go through a process of assessment and development.
The financing framework follows discussions under the UK-Philippines Joint Economic and Trade Committee (JETCO). At the second JETCO ministerial meeting on September 22, both governments recognised the progress of the Infrastructure Sector Working Group in finalising the framework, with UKEF confirming up to £5 billion in capacity for eligible Philippine projects.
Nelson identified energy, particularly renewable energy, as a key area for potential cooperation.
“If you look at all these projects, I think energy will be the foremost,” he said, citing the Philippines’ efforts to further expand renewable energy.
Under the latest JETCO programme of work, the UK and Philippines will continue cooperation on offshore wind, grid modernisation, smart grids and microgrids, while also exploring potential cooperation in civil nuclear energy.
The two countries have also identified infrastructure, agriculture and technology, alongside renewable energy and energy transition, as areas for deeper trade and investment cooperation.
The UK government has said the UKEF support can help connect Philippine infrastructure projects with UK expertise, goods, services and financing, creating opportunities for British companies to participate in future projects. The broader UK-Philippines partnership also includes support for sustainable infrastructure and clean-energy investment through UK-backed financing and technical assistance.
Nelson also pointed to the importance of continued policy and regulatory reforms in strengthening the environment for foreign investment, particularly in areas involving cybersecurity, open finance and digital payments.
The agreement comes as the UK and Philippines mark 80 years of diplomatic relations. Bilateral trade in goods and services reached £3.1 billion in the four quarters to the end of the first quarter of 2026, according to the UK government.
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