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Manila Bulletin devider Business devider Banking & Finance devider Philippines secures ₱14-billion French loan for marine protection, livelihoods

Philippines secures ₱14-billion French loan for marine protection, livelihoods

Published Aug 13, 2026 04:13 pm
The Philippines is set to strengthen marine ecosystem protection and expand sustainable livelihood opportunities through €200 million (approximately ₱14 billion) in financing from French development bank Agence Française de Développement (AFD).
Secured by the Department of Finance (DOF), the policy-based loan will fund the first phase of the Marine Ecosystem for Blue Economy Development (MEBED 1) program. The initiative supports policy reforms in marine ecosystem protection, solid waste management, and blue economy investments.
In an Aug. 13 statement, the DOF said the program is expected to generate sustainable livelihood opportunities for more than three million people, including fisherfolk, aquaculture operators, and tourism workers.
Finance Secretary Frederick D. Go emphasized that the initiative will protect coastal communities while strengthening their resilience to climate change.
“By securing our marine resources, we are protecting the livelihoods of millions of coastal residents and strengthening our defenses against climate change,” Go said during the ceremonial exchange of financing agreements. “Cleaner oceans mean a healthier, more productive blue economy.”
The program is co-financed by the Asian Development Bank (ADB) as part of a broader partnership to advance environmental sustainability, climate resilience, and inclusive economic growth.
French Ambassador Marie Fontanel noted that the initiative will help protect marine biodiversity, reduce ocean plastic pollution, and create sustainable economic opportunities.
AFD Country Director for the Philippines Benedicte Gazon added that France remains committed to supporting the country's push for sustainable growth and ecosystem resilience. (Derco Rosal)

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