US Secretary of State Marco Rubio announced a $60-million funding to bolster the Philippines' economy and maritime security,

Rubio made the announcement in a statement Wednesday, two days after his meeting with Philippine President Ferdinand Marcos Jr., who met US President Donald Trump.

It followed the new 19 percent tariff rate for goods from the Philippines, which was announced by Trump after meeting Marcos at the White House on Tuesday (Wednesday in Manila).

"This is the US government’s first announcement of new foreign assistance for any country since the Trump administration began its review and realignment of foreign assistance in January," the State Department said in a statement.

The funding, amounting to P3 billion in local currency would reinforce the Philippines' energy, maritime, and economic growth programs, the State Department said.

Rubio, according to the State Department, would seek US Congress approval to allocate P825 million or $15 million from the amount "to catalyze private sector development in the Luzon Economic Corridor," a US-envisioned growth region in Asia.

"If approved, this funding will support investments in the areas of transport, logistics, energy, and semiconductors that will help create jobs and drive economic growth in the country," the State Department said. DMS