The Philippine government has secured €200 million in development financing from KfW Development Bank, Germany’s third-largest bank, to help protect the country’s marine resources and strengthen the livelihoods of coastal communities.
The funding will support the Marine Ecosystems for Blue Economy Development Program, Subprogram 1 (MEBED1), a major initiative aimed at improving the protection, restoration, and sustainable management of the country’s coastal and marine ecosystems.
Speaking during the ceremonial signing on Tuesday, Finance Secretary Frederick Go underscored the long-term value of investing in 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.
In a statement released Wednesday, the Department of Finance said the program is designed to enhance the government’s regulatory capacity to safeguard marine and coastal resources while supporting reforms needed to address persistent environmental and development challenges.
The DOF said the financing will build on the gains already achieved under the broader MEBED program and help advance key government operations focused on protecting vulnerable ecosystems and ensuring their sustainable use.
Beyond environmental protection, the initiative is expected to deliver direct economic benefits to more than three million Filipinos, including fisherfolk, aquaculture operators, and tourism workers. By supporting more resilient coastal communities and more sustainable marine industries, the program is also seen to contribute to higher incomes and stronger long-term national growth.