IFC Collaborates with the EU to Advance Green Transition Efforts in the Philippines

In a bid to boost private-sector involvement in advancing the Philippines’ green transition, the International Finance Corporation (IFC) has joined forces with the European Union (EU) under the Green Economy Programme for the Philippines (GEPP). This initiative is part of the EU’s newly launched Global Gateway program.

The GEPP, introduced in March 2024 by the Department of Environment and Natural Resources and the EU, aims to enhance waste management, support a shift to a sustainable circular economy, accelerate renewable energy adoption, and promote energy efficiency technologies across the country.

The collaboration between the EU and IFC under the GEPP seeks to mobilize private capital and investments from both IFC and European development finance institutions to tackle the Philippines’ climate challenges.

“The private sector is crucial to achieving a sustainable and prosperous future, and the EU is delighted to partner with IFC to foster green growth in the Philippines,” stated Luc Véron, EU Ambassador to the Philippines. “Our involvement in the country’s green transition reflects our commitment to global climate action and sustainable development, in line with the European Green Deal.”

Running until 2028 with a budget of approximately Php 308 million (EUR 5.2 million), the program will see IFC focus on enhancing the environment for plastics recycling and waste management, driving decarbonization investments in challenging sectors, greening supply chains, and accelerating the energy transition.

“IFC is dedicated to supporting the Philippines’ private sector in its journey toward a low-carbon future,” said Jean-Marc Arbogast, IFC’s Country Manager for the Philippines. “Our partnership with the EU highlights our shared commitment to fostering resilient, green, and inclusive growth that benefits all Filipinos.”