The International Finance Corporation (IFC) and the European Union (EU) launched a joint initiative to drive private sector investment to support the Green Economy Program for the Philippines (GEPP).
“Our engagement in the country’s green transformation underscores our dedication to global climate action and sustainable development, which is aligned with the European Green Deal,” said EU Ambassador to the Philippines Luc Véron.
Under the GEPP, the EU and IFC will mobilize private capital and investment from the IFC and European development finance institutions to address the country’s climate challenges.
IFC contributed P308 million until 2028 to help the Philippines focus on improving the enabling environment for plastics recycling and waste management, catalyzing decarbonization investments in challenging sectors, greening supply chains and accelerating the energy transition.
“IFC is deeply committed to supporting the Philippines’ private sector in its ambitions to transition to a low-carbon future,” said IFC country manager for the Philippines Jean-Marc Arbogast.
Launched in March 2024, the GEPP aims to enhance waste management, promote a circular economy, accelerate renewable energy adoption and improve energy efficiency.
