PH secures €200M from Germany’s KfW bank for blue economy dev't

The government, through the Department of Finance (DOF), has secured a €200-million or over P13 billion in development financing from Germany’s KfW Development Bank to help the country protect its marine resources.

In a news release on Wednesday, the DOF said the financing agreement was inked by Finance Secretary Frederick Go and KfW Management Committee Member for Europe and Asia Stephan Opitz during a ceremonial signing in Manila on March 17, 2026.

This would cover the financing requirements for the Marine Ecosystems for Blue Economy Development Program, Subprogram 1 (MEBED1) which aims to enhance regulatory capacities for the protection, restoration, and sustainable management of marine and coastal resources.

“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.

The DOF said MEBED1 is expected to generate increased and sustainable livelihoods for more than three million people – fisherfolk, aquaculture operators, and tourism workers – boosting national income and strengthening the resilience of coastal communities.

The signing ceremony was attended by DOF Undersecretary Joven Balbosa and German Embassy Deputy Head of Mission Mathias Kruse, according to the Finance Department. — JMA, GMA Integrated News