Finance Secretary Ralph Recto<\/strong> has successfully secured concessional funding from France, through the Agence Fran\u00e7aise De D\u00e9veloppement (AFD), to help advance the Philippines\u2019 climate actions.<\/p>\n The agreement is consistent with President Ferdinand R. Marcos, Jr<\/strong>.\u2019s call for innovative strategies to address climate change and transform resilience into reality.<\/p>\n \u201c[This] is a vote of confidence in the Filipino people and our shared vision of a greener, safer, and more resilient future,\u201d the Finance Chief said.\u00a0<\/p>\n The ceremonial exchange for the Climate Change Action Plan<\/strong>, Subprogram 2 (CCAP2) was formally executed between Secretary Recto and Ambassador of the French Republic to the Philippines, Her Excellency Ambassador Marie Fontanel, on June 2, 2025.<\/p>\n Worth EUR 250 million (about PHP15.79 billion), the CCAP2 builds on the achievements of CCAP1 to support the Philippines in achieving its Nationally Determined Contribution (NDC) commitments and in its efforts to assist vulnerable sectors in the transition to a resilient, low-carbon economy.<\/p>\n CCAP comprises three subprograms that support various climate-related policy reforms in the following areas: (i) strengthening planning, financing, and institutional linkages for climate action; (ii) enhancing resilience to climate impacts; and (iii) strengthening low-carbon pathways.<\/p>\n CCAP1 was implemented from January 2020 to March 2022 and was supported by a USD 250 million (about PHP 13.90 billion) financing from the Asian Development Bank (ADB) and a EUR 150 million (about PHP 9.47 billion) funding from the AFD.<\/p>\n Together with AFD, the CCAP2\u00a0 is co-financed by the ADB (EUR 449.12 million or about PHP 28.36 billion) and the Japan International Cooperation Agency (JICA) (JPY 35 billion or about PHP 13.3 Billion).<\/p>\n \u201cWith this agreement, we strengthen our strategic cooperation on climate action, reinforce our institutional capacities, and accelerate the delivery of real, lasting change\u2014especially for the most vulnerable,\u201d Secretary Recto said in his speech.<\/p>\n \u201cThis is the kind of meaningful partnership the times demand\u2014ambitious, strategic, and purposeful,\u201d Secretary Recto stressed.<\/p>\n The Finance Chief thanked the French Government for its continued support and decade-long partnership with the Philippines, which is strengthened by both nations\u2019 common resolve to address climate change.<\/p>\n \u201cFrance and the Philippines stand once again united in their commitment to address the urgent challenges of climate change, environmental degradation, and ocean protection,\u201d Ambassador Fontanel said in response.<\/p>\n \u201cI would like to commend the government of the Philippines for its leadership and resolve in tackling those global issues,\u201d she added.<\/p>\n \u201cAs a development partner, we are proud to be a part of this effort and to be working at the policy level. We firmly believe that working on systemic change is essential to meet the scale and urgency of today\u2019s climate challenges,\u201d AFD Country Director Benedicte Gazon said.<\/p>\n Secretary Recto likewise assured the French Government of the Philippine Government\u2019s commitment to implementing the program with urgency and integrity.<\/p>\n \u201cWe will ensure that every euro invested, and every collaboration, will translate to meaningful impact in the lives of ordinary Filipinos,\u201d the Finance Chief said.<\/p>\n The AFD is a public financial institution that implements French government policy and works to combat poverty and promote sustainable development.<\/p>\n Joining Secretary Recto during the ceremonial exchange were DOF Chief of Staff Maria Luwalhati Dorotan Tiuseco, International Finance Group (IFG) Undersecretary Joven Balbosa, Assistant Secretary Donalyn Minimo, and Director John Adrian Narag.\u00a0<\/p>\n \n\t\t<\/div>\n![\"\"](\"https:\/\/bukidnononline.com\/wp-content\/uploads\/2025\/06\/Ralph-Recto-1024x563.png\")
<\/figure>\n