Recto secures P15B French funding for climate action

The Philippine government has secured €250 million (approximately %u20B115.79 billion) in concessional funding from the French government to support the country’s climate change initiatives, the Department of Finance (DOF) announced on Monday.

Finance Secretary Ralph G. Recto and French Ambassador to the Philippines Marie Fontanel formalized the agreement during a ceremonial exchange at the DOF headquarters in Manila. The funding is channeled through the Agence Française de Développement (AFD) under the second phase of the Climate Change Action Program (CCAP2).

Recto described the agreement as “a vote of confidence in the Filipino people and our shared vision of a greener, safer, and more resilient future,” emphasizing that it aligns with President Ferdinand R. Marcos Jr.’s push for innovative, impactful responses to the climate crisis.

The funding, part of a broader multi-donor financing arrangement, follows the earlier CCAP1 program and is designed to help the Philippines meet its Nationally Determined Contribution (NDC) targets under the Paris Agreement. CCAP2 focuses on strengthening climate-related policy reforms, improving institutional frameworks, and enabling low-carbon economic pathways.

AFD’s contribution complements parallel support from the Asian Development Bank (ADB), which is providing %u20B128.36 billion, and the Japan International Cooperation Agency (JICA), which is contributing %u20B113.3 billion to the same initiative.

French officials said the cooperation is part of a long-standing development partnership between Manila and Paris. “France and the Philippines stand once again united in their commitment to address the urgent challenges of climate change, environmental degradation, and ocean protection,” Ambassador Fontanel said in a statement.

Benedicte Gazon, AFD’s country director, added that supporting systemic policy reforms is essential to meeting the scale and urgency of today’s environmental challenges. “We are proud to be part of this effort and to work with the Philippine government on meaningful climate action at the policy level,” Gazon said.

Secretary Recto, in his remarks, assured France that the government will ensure full transparency and urgency in implementing the program. “Every euro invested and every collaboration will translate to meaningful impact in the lives of ordinary Filipinos,” he said.

The funding is expected to help the Philippines strengthen its climate resilience, reduce emissions, and boost support for vulnerable communities—key components of its long-term development strategy under the Marcos administration.