The Department of Finance (DoF) announced that the Philippines has secured a $6.78-million technical assistance grant from the Green Climate Fund (GCF) to boost the country’s capacity to access climate finance, as reported by BusinessWorld.
Finance Undersecretary Joven Z. Balbosa welcomed the approval, stating that the grant is not merely financial support but an investment in strengthening the country's climate resilience and low-emission development. The funds will be used to enhance institutional capabilities and project pipelines to better access international climate finance mechanisms.
The grant underscores the Philippines' ongoing efforts to tap global climate funds amid increasing vulnerability to extreme weather events. The GCF, established under the UN Framework Convention on Climate Change, aims to support developing countries in their climate action initiatives.