PH secures $6.78M grant from Green Climate Fund

The Philippine government, through the Department of Finance (DOF) has secured a $6.78-million (about P418 million) technical assistance grant from the Green Climate Fund (GCF).

In a statement on Wednesday, the DOF said the GCF grant would help strengthen the country's capacity to access and implement climate investments aimed at helping protect communities from the impacts of climate change, accelerate the transition to clean energy, and support sustainable and inclusive economic growth.

According to the Finance Department, grants are aids given by development partners with no obligation for repayment.

The GCF, established in 2010 by 194 parties to the United Nations Framework Convention on Climate Change (UNFCCC), supports developing countries in achieving their climate ambitions.

The DOF said the approval of the Third Readiness and Preparatory Support Programme (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.

“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,” said DOF Undersecretary Joven Balbosa.

The Finance Department said the grant program was approved on June 24, 2026.

It said the 60-month program will strengthen the country’s capacity to access, develop, and implement climate investments aligned with the National Adaptation Plan (NAP) and the Nationally Determined Contribution Implementation Plan (NDCIP).

Moreover, 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.

The program is expected to help mobilize more international climate financing for projects that enhance climate resilience, strengthen food and water security, support the transition to cleaner energy, and protect vulnerable communities, according to the DOF.

The Global Green Growth Institute (GGGI) will serve as the DOF’s Delivery Partner, with the United Nations Development Programme (UNDP) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) serving as co-implementers.

"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,” said GCF Regional Director for Asia and the Pacific Hemant Mandal.

Through RPSP 3, the DOF said it aims to create an enabling environment for climate investments and accelerate the country’s transition toward a resilient, low-carbon, and sustainable future.

The Finance Department said it is the Philippines’ National Designated Authority (NDA) to the GCF, leading efforts to access climate financing and ensure projects align with national priorities. — LA, GMA News