MANILA, Jan 19 (NNN-PNA) – The Philippine Congress, allocated 40 billion pesos (673 million U.S. dollars) in capital outlays, for the Armed Forces of the Philippines (AFP) modernisation programme, under the 2026 national budget, a senior lawmaker said, yesterday.
House of Representatives Minority Leader, Marcelino Libanan, said, lawmakers also authorised an additional 50 billion pesos (approximately 842 million dollars) under unprogrammed appropriations, to further support the military’s modernisation projects.
Libanan said that, the release of funds from unprogrammed appropriations would depend on the availability of excess or new government revenues, or on the approval of loans for foreign-assisted projects.
He said, Congress introduced a new special provision in the 2026 General Appropriations Act, granting the Secretary of Finance authority, to enter into loan contracts and other financing arrangements, to help fund AFP modernisation initiatives.
Under the provision, Libanan said, the finance secretary may arrange additional funding, including grants and loans, if necessary, in consultation with the Department of National Defence, and subject to presidential approval and prior concurrence of the Monetary Board.– NNN-PNA