Metro Manila (CNN Philippines, July 31) — The Philippine government and the European Union (EU) signed a bilateral agreement on the Joint Declaration on the Green Economy Program, which would provide the former with a grant worth 60 million euros to pursue efforts on this front.
President Ferdinand Marcos Jr. and European Commission President Ursula von der Leyen witnessed the signing ceremony in Malacañang on Monday.
The signatories were Department of Environment and Natural Resources Secretary Maria Antonia Yulo-Loyzaga and Ambassador of the European Union to the Philippines Luc Veron.
In his speech, Marcos said he had a “productive” meeting with von der Leyen, who is in the Philippines for an official visit.
“On development cooperation, we committed to conclude a financing agreement on the green economy program in the Philippines,” Marcos said.
He said the grant would help the country’s efforts in the areas of circular economy, renewable energy, and climate change mitigation.
Under a circular economy, resources are maximally used and waste is avoided. In effect, today’s waste is tomorrow’s raw materials.
Von der Leyen, meanwhile, said the EU would provide “financing expertise and access to technologies” to back the Philippines in its shift to a circular economy.
The EU official likewise expressed support for the government’s battle against climate change and extreme weather events.
On positioning the country as a “digital hub” in the region, von der Leyen said, “European companies are ready to come and invest in the Philippines.”
“We will launch this year, the digital economy package for the Philippines. That is we will work together on fast and reliable connectivity with submarine cables on cybersecurity training, and on deployment and development of 5G,” she added.
