Philippines and Sweden Forge Financial and Development Cooperation Pact.
MANILA: The Philippines and Sweden have formalized a government-to-government financial and development cooperation agreement, which will enable Manila to access grants aligned with Stockholm’s priority programs. The Memorandum of Understanding (MOU) on Financial and Development Cooperation was signed by Finance Secretary Ralph Recto and Minister for Infrastructure and Housing Andreas Carlson at the Department of Finance (DOF) office in Manila on November 22. According to Philippines News Agency, this agreement provides a framework for the Philippine government to secure technical assistance, concessional official development assistance, and/or blended financing from the Swedish government for its priority programs and projects. Among the