The European Union (EU) and the Philippines signed a €60 million Green Economy Program, aiming to assist the Philippines in renewing its economy on Thursday, 26 October 2023 during the Global Gateway Forum in Brussels, Belgium.
European Commissioner for International Partnerships, Jutta Urpilainen, said:
“The Team Europe Initiative on Green Economy is a testament to the power of cooperation in addressing today’s pressing challenges. With a significant contribution of €60 million through the Green Economy Program, we are helping to build a circular economy, promoting sustainable practices, and supporting climate change mitigation.”
The EU will assist the Philippines in embracing the circular economy, reducing waste and plastic usage, ensuring water supply and wastewater treatment, promoting energy efficiency, and deploying renewable energy to address the impacts of the climate crisis.
“The Philippine Government is grateful for the EU’s generosity and staunch support to the country’s climate change agenda. The financing support from the EU will help the country in fulfilling its Nationally Determined Contribution commitment to reduce and avoid greenhouse gas emissions by 75 percent by 2030,” said the Philippines’ Secretary of Finance Benjamin E. Diokno.
“Through this EUR60 Million grant, the country will benefit from various measures in reducing the production of wastes and plastics, deploying renewable energy, and improving energy efficiency,” he added.
Source: Global Gateway Forum
