PH and Sweden held a joint workshop on 13 December in order to explore further opportunities for cooperation. Specifically regarding finance and development projects in the Philippines.
The Filipino government side was led by the Department of Finance (DOF) while the Swedish government was represented by the Swedish Export Credit Corporation (SEK), the Swedish Export Credit Agency (EKN), and the Swedish Development Finance Institution (Swedfund).
Swedfund had financed studies on feasibility as well as preparatory projects – the main areas of cooperation. Furthermore, they discusses the funding of sustainable infrastructure projects utilizing Swedish export credit facilities from SEK and EKN.
The support is not new
“Swedfund has been engaged in the Philippines since 2018 supporting the government in developing public transportation in Manila,” said Swedfund Manager Anna Älgevik.
“We hope that the workshop will lead to even closer collaboration and that Team Sweden (SEK, EKN, Swedfund, Business Sweden, and the Embassy of Sweden in Manila) can be a part of realizing the Philippines’ important green transition and growth agenda,” she concluded, her optimism being seconded by the fellow Swedish companies.
The workshop also allowed government representatives from each side to go over priority areas of sustainable development in the Philippines – including transportation, renewable energy, energy transmission, and circular solutions for water and waste.
A MoU is expected to fall into place soon. An act which will show Sweden’s consistent support to the PH.
“The upcoming finalization and conclusion of the MOU [Memorandum of Understanding] between the Philippines and Sweden only attests to the Swedish government’s continued support for the country in the field of sustainable investment and resilient socioeconomic development,” said Finance Secretary Benjamin E. Diokno.
Source: The Department of Finance
