The Green Climate Fund (GCF) extended a USD6.78 million grant to help the Philippines implement climate investments that will protect communities from the impacts of climate change, accelerate the transition to clean energy and support sustainable and inclusive economic growth.
In a statement Wednesday, the Department of Finance (DOF) said the Third Readiness and Preparatory Support Program (RPSP 3) makes the Philippines the first country in Asia and the Pacific to access GCF readiness support under the Fund’s second replenishment period (GCF-2), covering 2024 to 2027.
Grants are aids given by development partners with no obligation for repayment.
Approved on June 24, 2026, the 60-month program will strengthen the country’s capacity to access, develop, and implement climate investments aligned with the National Adaptation Plan and the Nationally Determined Contribution Implementation Plan.
RPSP 3 will strengthen inter-agency coordination among key climate institutions, develop a robust pipeline of projects aligned with national priorities, and enhance knowledge management and monitoring systems.
It incorporates inputs from the Department of Environment and Natural Resources, Climate Change Commission, Department of Agriculture, Department of Science and Technology and other key institutions, reflecting strong national ownership and alignment with the country’s climate and sustainable development priorities.
“We welcome the GCF’s approval of this grant. More than financial support, it is an investment in the Philippines’ ability to turn climate ambition into action and deliver lasting benefits for the Filipino people,” Undersecretary Joven Z. Balbosa said.
The Global Green Growth Institute will serve as the DOF’s delivery partner, while the United Nations Development Programme and the Deutsche Gesellschaft für Internationale Zusammenarbeit will serve as co-implementers.
The DOF said it is also preparing a second proposal under the GCF Country-Driven Readiness window, which may provide up to USD3 million in additional grant support.
“This readiness grant from the GCF will strengthen climate action in the Philippines by enhancing institutional capacity, reinforcing existing coordination mechanisms, and accelerating the development of a strong project pipeline further supporting country ownership,” GCF Regional Director for Asia and the Pacific Hemant Mandal said.
The DOF is the Philippines’ National Designated Authority to the GCF, leading efforts to access climate financing and ensure projects align with national priorities. (PNA)
