The Philippines is set to strengthen the protection of its marine ecosystems resources and expand opportunities in the blue economy with EUR 200 million in financing from the French development bank, Agence Française de Développement (AFD) for the Marine Ecosystem for Blue Economy Development (MEBED) 1.
This program is expected to generate increased and sustainable livelihoods for more than three million people, including fisherfolk, aquaculture operators, and tourism workers. It will also boost national income and strengthen the resilience of coastal communities.
The financing, secured by the Department of Finance (DOF), will support policy reforms that protect marine ecosystems, improve solid waste management, and promote investments in the country’s blue economy.
“By securing our marine resources, we are protecting the livelihoods of millions of coastal residents and strengthening our defenses against climate change. Cleaner oceans mean a healthier, more productive blue economy,” Finance Secretary Frederick D. Go said in his remarks at the ceremonial exchange of financing agreements.
The initiative is co-financed by the Asian Development Bank (ADB), underscoring the strong partnership between the Philippines and its development partners in advancing environmental sustainability, climate resilience, and inclusive economic growth.
“The marine ecosystems and blue economic development program represent an important step forward in protecting marine biodiversity, reducing plastic marine debris while promoting sustainable economic opportunities,” French Ambassador Marie Fontanel said.
“France and the Philippines share a long-standing partnership grounded in joint action for sustainable growth and the resilience of ecosystems and population. As a development partner, the French Development Agency is proud to help translate these shared commitments into concrete projects and tangible impact,” AFD Country Director for the Philippines Benedicte Gazon said.
Secretary Frederick Go then thanked the AFD for its continued partnership and confidence in the Philippines, reaffirming the Philippine government’s commitment to work with partners to ensure that every investment translates into meaningful and lasting benefits for the Filipino people.
