IFC and EU Launch Green Economy Programme in Philippines to Boost Private Sector Green Transition

The GEPP is designed to enhance waste management, support the shift towards a circular economy, boost renewable energy deployment, and promote energy-efficient technologies in the Philippines.

The International Finance Corporation (IFC) and the European Union (EU) have announced a new partnership under the Green Economy Programme for the Philippines (GEPP), aimed at accelerating the country's green transition. This initiative is part of the EU's broader Global Gateway initiative, launched in March 2024 by the Department of Environment and Natural Resources and the EU.

The GEPP is designed to enhance waste management, support the shift towards a circular economy, boost renewable energy deployment, and promote energy-efficient technologies in the Philippines. With a budget of approximately Php 308 million (EUR 5.2 million) and running until 2028, the program seeks to mobilize private capital and investment from IFC and European development finance institutions to address the country’s climate challenges.

Luc Véron, EU Ambassador to the Philippines, highlighted the significance of the collaboration: “The private sector is crucial in our collective journey towards sustainability. The EU is proud to partner with IFC to drive green growth in the Philippines, reflecting our commitment to global climate action and sustainable development in line with the European Green Deal.”

Under the GEPP, IFC’s role will focus on improving the framework for plastics recycling and waste management, driving investments in decarbonization for hard-to-abate sectors, greening supply chains, and accelerating the energy transition.

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