Philippines Urges ASEAN-EU to Expand Access to Financial Services

Jakarta (ANTARA) - The Philippines has called for strengthening ASEAN-European Union cooperation in expanding access to financial services to support small businesses and accelerate climate action by opening up more opportunities for green investment. According to an official statement from ASEAN 2026 received in Jakarta on Monday, this year, as ASEAN chair, the Philippines is bolstering partnerships with the private sector to create jobs and expand access to financial services through investments in infrastructure and connectivity. “The role of the government is to strengthen our investment environment fundamentals and make them conducive for the private sector to grow, invest, and partner with the public sector,” said Philippine Finance Department Secretary Frederick D. Go. He made the remarks at the ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) with the ASEAN Business Council on 9 April 2026 in Manila, Philippines. The session included meetings with the US-ASEAN Business Council (US-ABC), the EU-ASEAN Business Council (EU-ABC), and the ASEAN Business Advisory Council (ASEAN-BAC). The discussions also highlighted how US strengths in public-private partnerships, blended financing, and risk-sharing schemes can be leveraged to fund strategic infrastructure, enhance regional connectivity, and promote development in high-impact sectors. The talks further underscored the growing role of technology and artificial intelligence in driving efficiency, improving financial services, and enabling businesses to compete in the increasingly digital economy. Given the European Union’s expertise in digital and sustainable finance, Frederick Go called for stronger ASEAN-EU cooperation in expanding access to financial services to support small businesses and accelerate climate action by creating more opportunities for green investment. Frederick Go also urged increased inclusive financing for micro, small, and medium enterprises (MSMEs) and agribusiness value chains, while strengthening regional payment connectivity.