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http://dbpedia.org/ontology/abstract The Armed Forces of the Philippines (AFP) … The Armed Forces of the Philippines (AFP) Modernization Act, officially designated as Republic Act No. 7898, was a Philippine law that was enacted on February 23, 1995, by President Fidel V. Ramos. It was aimed to modernize all branches of the Armed Forces of the Philippines (AFP) such as the Philippine Air Force, Philippine Navy, and the Philippine Army. The law was intended to last for 15 years with an initial budget of 50 billion pesos for the first five years, but the funding was stopped due to the 1997 Asian financial crisis. After the financial crisis, the funding for the AFP modernization was halted and later neglected by successive administrations until the law expired in 2010. On December 11, 2012, it was amended by Republic Act No. 10349, also known as the Revised AFP Modernization Act, which extends the modernization program for another 15 years with an initial budget of ₱75 billion for the first five years in order to continue modernizing all the branches of the AFP. The amended law was made under the leadership of President Benigno Aquino III. This new law is aimed at building a defense system capable of addressing the assessed threats, at a time when the Philippines is locked with a sea dispute with China in the contested Spratly Islands along with Taiwan and other southeast Asian nations like Brunei, Malaysia, and Vietnam. The revised AFP modernization program is divided into three horizons. The first was implemented from 2013 to 2017, the second is from 2018 to 2022, while the third is from 2023 to 2028. A total Projected Cost of US$40 billion On June 20, 2018, President Rodrigo Duterte approved the Armed Forces modernization program's shopping list for Horizon 2. The list of projects will be implemented from 2018 to 2022, with a budget of about ₱300 billion, or about US$5.6 billion.out ₱300 billion, or about US$5.6 billion.
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http://dbpedia.org/property/date November 2021
http://dbpedia.org/property/reason Philippine Navy and Marine Corps modernization updates are outdated
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rdfs:comment The Armed Forces of the Philippines (AFP) … The Armed Forces of the Philippines (AFP) Modernization Act, officially designated as Republic Act No. 7898, was a Philippine law that was enacted on February 23, 1995, by President Fidel V. Ramos. It was aimed to modernize all branches of the Armed Forces of the Philippines (AFP) such as the Philippine Air Force, Philippine Navy, and the Philippine Army. The law was intended to last for 15 years with an initial budget of 50 billion pesos for the first five years, but the funding was stopped due to the 1997 Asian financial crisis. After the financial crisis, the funding for the AFP modernization was halted and later neglected by successive administrations until the law expired in 2010.nistrations until the law expired in 2010.
rdfs:label AFP Modernization Act
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