In a move to accelerate the Philippines’ shift toward a green economy, the International Finance Corporation (IFC) has joined forces with the European Union (EU) under the Green Economy Programme for the Philippines (GEPP), part of the EU’s Global Gateway initiative.
The GEPP, launched in March 2024 by the Department of Environment and Natural Resources and the EU, aims to improve waste management, support the transition to a circular economy, enhance renewable energy adoption, and promote energy-efficient technologies across the country.
The collaboration between the EU and IFC under this program seeks to mobilize private capital and investment from IFC and European development finance institutions to address the Philippines’ climate challenges.
“The private sector plays a pivotal role in our collective journey toward a sustainable and prosperous future,” said EU Ambassador to the Philippines, Luc Véron. “This partnership reflects our commitment to global climate action and sustainable development, aligned with the European Green Deal.”
The GEPP will run until 2028 with a budget of around Php 308 million (EUR 5.2 million). IFC’s role will focus on creating an enabling environment for plastic recycling and waste management, supporting decarbonization in high-emission sectors, greening supply chains, and accelerating the country’s energy transition.
“IFC is committed to supporting the private sector in the Philippines as it transitions to a low-carbon future,” said Jean-Marc Arbogast, IFC’s Country Manager for the Philippines.
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