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Philippines and EU sign EUR60m deal for green economy

The Philippines and the European Union (EU) sealed a EUR60m deal to back the Green Economy Programme, aiming to steer the country towards a sustainable economy. Signed at the Global Gateway Forum in Brussels by Finance Secretary Benjamin E. Diokno and EU Commissioner Jutta Urpilainen, the funds will support the Philippines in reducing greenhouse gas emissions by 75% by 2030. The initiative will focus on waste reduction, enhancing energy efficiency, and advancing renewable energy use. The EU will collaborate with various government levels and the private sector to endorse green investments and practices. Additionally, the European Commission is exploring a potential free trade agreement with the Philippines, targeting economic growth, job creation, and strengthened supply chains.

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