Finance Secretary Frederick D. Go has secured financing to protect marine resources and expand opportunities for coastal communities.
“By strengthening the foundations of the blue economy, we are securing livelihoods, raising incomes, and reinforcing a vital engine of national growth, today and for the future,” he said during the ceremonial signing of the agreement on March 17, 2026.
The Marine Ecosystems for Blue Economy Development Program, Subprogram 1 (MEBED1) aims to enhance regulatory capacities for the protection, restoration, and sustainable management of marine and coastal resources.
Under the program, the Philippines secured development financing amounting to EUR 200 million from KfW Development Bank (KfW).
The financing will build on the gains achieved under the MEBED Program and support key government reforms and operations aimed at addressing core development challenges in coastal and marine ecosystems.
The program is expected to generate increased and sustainable livelihoods for more than three million people—fisherfolk, aquaculture operators, and tourism workers—boosting national income and strengthening the resilience of coastal communities.
The agreement was signed by Secretary Go with KfW Management Committee Member for Europe and Asia Stephan Opitz.
Secretary Go noted that the partnership with KfW reflects a shared commitment to ensuring that environmental protection, climate resilience, and economic growth advance together.
The signing ceremony was attended by DOF Undersecretary Joven Z. Balbosa and German Embassy Deputy Head of Mission Mathias Kruse.
