Philippines eyes ‘game changer’ for maritime defence with French shipbuilding boost

AI Summary
French shipbuilder OCEA plans to establish its first Asian shipbuilding venture in the Philippines, seeking a local partner and site. This initiative is part of a France-backed patrol boat program aimed at significantly expanding the Philippine Coast Guard's fleet. The project involves the construction of 20 aluminum-hulled coastguard cutters in the Philippines and another 20 in France. A financial agreement involving French private banks, the French government, and the Philippine government is under discussion to support the project. The French Ambassador to Manila stated that the financing will be a sovereign loan from the French government channeled through private lenders. The Philippine Coast Guard views this project as a potential "game changer" for maritime enforcement.
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