The biggest roadblock for the AFP Modernization Program to enable multi billion-dollar projects to move forward is the revision or update of Presidential Decree PD415, which was made during the presidency of former Pres. Ferdinand Marcos Sr. in 1974.. PD415 limits any defense-related loans to US$300 million, which is huge back in the 1970s but does not worth much nowadays considering the Philippines can actually pay for US300 million projects without needing loans. It is the same reason why the
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