00:00We're now allocating an additional $500 million in foreign military financing to the Philippines
00:05to boost security collaboration with our oldest treaty ally in this region.
00:11New steps to strengthen the alliance, a once-in-a-generation investment
00:15to help modernize the Filipino Armed Forces and Coast Guard, our first bilateral security
00:20sector assistance roadmap, doubling our investments in the Enhanced Defense Cooperation Agreement.
00:27As you know, the Philippines has actually long been one of the largest recipients of
00:31foreign military financing in the Indo-Pacific, but the very significant additional investment
00:39that we're making in FMF, the $500 million, this is really designed to support the modernization
00:44of Filipino forces, Coast Guard, as they transition to focus on external defense.
00:52We're building on a lot of progress the Philippines has already made
00:55to be better positioned to defend their sovereignty. That is what this is about.
00:59These and all the EDCA investments will serve to secure the Philippines' credible deterrent
01:08posture. Every peso or dollar spent on hardening Philippine capabilities to defend itself and to
01:16deter unlawful aggression will be a plus against any threat actor, whether it be China or anyone.
01:25Thank you.
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