The Philippine government and the Kingdom of Denmark signed a memorandum of understanding (MOU) on promoting financial and developmental cooperation.
In a statement on Monday, the Department of Finance (DOF) said the MOU signed on June 29 aims to establish a framework to deepen bilateral cooperation and mobilize financing for the Philippines’ priority development programs.
Finance Secretary Frederick Go and Danish Ambassador to the Philippines Franz-Michael Skjold Mellbin led the ceremonial signing of the agreement.
The agreement expands cooperation in key sectors, including infrastructure, renewable energy, climate action, maritime development and shipbuilding, transportation, agriculture, and other priority areas.
It also creates opportunities for concessional and blended financing to support high-impact projects that strengthen climate resilience, improve connectivity, and promote long-term, sustainable economic growth for the Filipino people.
“At the Department of Finance (DOF), we see this partnership as an investment in our future. Our goal is to translate this agreement into concrete projects, stronger investments, and meaningful results that benefit both the Philippines and Denmark,” Go said.
The signing of the MOU marks another milestone as the Philippines and Denmark celebrate 80 years of diplomatic relations.
“When we get the framework right, we get the solutions right, and companies are more willing to invest in the Philippines to increase productivity and strengthen the economy’s resilience,” Ambassador Mellbin said. (PNA)