The Philippines has secured €200 million in development financing from KfW Development Bank to protect marine ecosystems and expand economic opportunities for coastal communities.
Finance Secretary Frederick D. Go formalized the agreement on Tuesday, March 17, under the Marine Ecosystems for Blue Economy Development Program Subprogram 1 (MEBED1), a flagship initiative to strengthen the country’s blue economy.
“By strengthening the foundations of the blue economy, we are securing livelihoods, raising incomes, and reinforcing a vital engine of national growth—today and for the future,” Go said.
MEBED1 will boost regulatory capacity for the protection, restoration, and sustainable management of marine and coastal ecosystems, while advancing key reforms to address long-standing challenges in coastal development.
The program is expected to benefit over three million Filipinos, including fisherfolk, aquaculture operators, and tourism workers, by promoting sustainable practices and improving climate resilience.
The agreement was signed with Stephan Opitz, underscoring a shared commitment between the Philippines and Germany to align environmental protection with economic growth.
Also present were DOF Undersecretary Joven Z. Balbosa and German Embassy Deputy Head of Mission Mathias Kruse.
