Media Release
22 September 2026
Australia is launching a new economic initiative with the Philippines to support critical investment, economic reform and stronger fiscal management.
Promoting Growth, Resilience, Economic Stability and Sustainability in the Philippines (PROGRESS), is a five-year, PHP 2 billion (AUD 45 million) program that will drive inclusive and sustainable economic growth in the Philippines.
PROGRESS will support the Philippine economy through targeted reforms to improve the ease of doing business, increase investment and trade, and enable the growth of priority sectors such as clean energy and the resource sector.
PROGRESS will also work to ensure that women, people with disability and marginalised groups have equal opportunity to participate in growth of the Philippine economy.
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