The Climate Change Commission (CCC) welcomed the Department of Finance’s (DOF) successful mobilization of EUR250 million (P15.79 billion) in concessional funding from the French government through the Agence Française de Développement (AFD).
Secured under the Climate Change Action Plan, Subprogram 2 (CCAP2), the funding is set to fast-track the country’s transition to a climate-resilient and low-carbon economy.
The CCC the milestone supports the effective execution of the Philippines’ Nationally Determined Contribution Implementation Plan (NDCIP), which outlines the country’s roadmap for achieving its climate targets through sectoral actions, enabling policies, and access to finance, technology, and capacity-building.
The financing reinforces the NDCIP’s goal of accelerating a just, inclusive, and science-based transition to a low-carbon and climate-resilient development pathway.
The CCC is a key implementing agency of policies under the CCAP framework, particularly those that strengthen climate governance, resilience building, and low-carbon development pathways.
It thanked France, AFD and partner institutions, including the Asian Development Bank and the Japan International Cooperation Agency for their sustained support.
“This investment reflects the growing confidence of the international community in the Philippines’ climate leadership,” said CCC executive director Robert E.A. Borje.
