"The United States and the Republic of the Philippines maintain close ties based upon the U.S.- Philippines Mutual Defense Treaty, the period of U.S. colonialization (1898-1946), common strategic and economic interests, and shared democratic values. The United States long maintained sizable naval and air force bases in the country. Although the Philippine Senate voted against U.S. wishes to close American military installations in 1992, bilateral security cooperation resumed following territorial disputes between the Philippines and China in 1994 and the launching of the Global War on Terrorism in 2002. After 2001, the Philippines received one of the most dramatic increases in U.S. foreign aid in Southeast Asia, largely for counterterrorism purposes, including not only military assistance but also health, education, and economic assistance in Muslim areas of Mindanao. In 2010, the U.S. Millennium Challenge Corporation approved a five-year, $434 million aid compact with the Philippine government focusing on taxation reform, poverty reduction, and infrastructure development."
CRS Report for Congress, RL33233