Canada provides P519-M funding for climate change, Mindanao; seeks increased trade with Manila

Canadian Trade Minister Mary Ng on Tuesday announced that Canada is providing P519 million to the Philippines to fund its climate change initiatives and spur economic growth in conflict areas in Mindanao.
 
Ng, who is currently in Manila for an official visit, said the CAD 12-million assistance would fund three projects to strengthen the country’s climate finance, support women’s empowerment in strife-torn areas in Mindanao, and revitalize communities affected by years-long armed conflict.
 
“If countries like Canada and the Philippines work together, we lift each other up by investing in each other’s futures, and our people and our communities benefit,” said Ng, Canada's Minister of International Trade, Export Promotion, Small Business and Economic Development, at a press briefing.
 
Of this amount, about CAD 4.5 million seeks to accelerate capital flows in green and climate finance to “help the Philippines deal with the vulnerabilities that come from climate change.”
 
Another CAD 3 million will be earmarked for Mindanao to strengthen the role of women as peace mediators and improve government capacity to deliver policies and programs on conflict prevention and resolution in the Bangsamoro region.
 
The remaining CAD 4.5 million, she said, will be used to revitalize Bangsamoro communities to “increase economic growth and ensure peace and stability.”
 
Ng, the first senior Canadian government official to visit the Philippines since 2018, also underlined Canada’s interest in bolstering its economic ties with the country.
 
“My message to the Philippines is that Canada is an enthusiastic collaborator and partner with the Philippines,” Ng said as she highlighted Canada’s new partnership framework for international infrastructure development.
 
Citing President Ferdinand Marcos Jr.’s policy to prioritize and strengthen infrastructure investments in the Philippines, Ng said Canada is looking forward to helping the country build more roads, bridges, and hospitals while creating local jobs.
 
“For a country as big and populous as the Philippines, reliable and sustainable infrastructure is crucial to future prosperity,” she said.
 
As one of the fastest growing economies in Southeast Asia, the Philippines is a “key partner of Canada,” Ng added.
 
She said Canada is also looking forward to strengthening its relations in the Indo-Pacific region, where it is separately negotiating for a free trade agreement with the Association of Southeast Asian Nations (ASEAN), a 10-member regional bloc that includes the Philippines.
 
Last year, Philippine-Canada trade totaled CAD 2.8 billion, an increase of more than 30% in 2020.
 
“What this really means in people's terms is that trade helps create jobs for both our people, opens new doors for small businesses and helps each other grow in their economies, which is so important at this time as we are all recovering from COVID-19,” Ng said.  — VBL, GMA News