The Philippines has secured a €250-million (roughly P15.9-billion) loan from the French government to support its ongoing efforts to fight climate change.
Announced during a ceremonial exchange between the French Embassy and the Department of Finance on Monday, the loan will fund the second phase of the Climate Change Action Program (CCAP2), aimed at strengthening national climate resilience.
According to the French Embassy, CCAP2 builds on the gains of its predecessor by continuing to push for crucial policy reforms and stronger institutional frameworks that prioritize climate adaptation and mitigation.
The program also emphasizes a “just transition,” targeting enhanced rural resilience and gender-responsive strategies. It acknowledges how climate change disproportionately affects vulnerable sectors, particularly women and marginalized communities.
The initiative is being facilitated through the Agence Française de Développement, France’s public development bank, which supports projects aligned with social and environmental sustainability.
