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Manila Bulletin devider Business devider Banking & Finance devider Philippines taps Germany's KfW for ₱14-billion ocean loan

Philippines taps Germany's KfW for ₱14-billion ocean loan

Published Mar 18, 2026 07:10 pm
The Philippines has secured €200 million (around ₱13.8 billion) from Frankfurt’s KfW Development Bank to fund a program to protect and manage the country’s marine and coastal resources.
This financing for the Marine Ecosystems for Blue Economy Development Program, Subprogram 1 (MEBED1) is expected to safeguard marine resources and expand employment opportunities.
According to the Department of Finance (DOF), the package from the German state-owned promotional lender is intended to protect, restore, and sustainably manage the country’s marine and coastal ecosystems.
The program is projected to generate sustainable livelihoods for more than three million Filipinos, including fisherfolk, aquaculture operators, and tourism workers, while strengthening the resilience of coastal communities and supporting long-term economic growth.
“By strengthening the foundations of the blue economy, we are securing livelihoods, raising incomes, and reinforcing a vital engine of national growth,” Finance Secretary Frederick D. Go said during the ceremonial signing on Tuesday, March 17.
The ceremony was attended by DOF Undersecretary Joven Z. Balbosa and German Embassy Deputy Head of Mission Mathias Kruse.
Go earlier noted that the Philippines is looking to finalize financing deals this year with Japan (10), Korea (10), and France (five). In total, the country is now eyeing 25 concessional loan agreements amounting to over $10 billion.
He added that the Philippines will return to tapping the Beijing-based Asian Infrastructure Investment Bank (AIIB) after securing two projects in 2025.
The planned financing deals include the $500 million Luzon Digital Connectivity Project, while AIIB is also reviewing a $150 million Metro Manila Sponge City Project to help manage floodwaters.
With over 200 infrastructure projects lined up for public-private partnerships (PPP), Go said these initiatives are expected to serve as an alternative to concessional loans.
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