THE Philippines has obtained a $6.78-million technical assistance grant from the Green Climate Fund (GCF), making the country the first in the Asia-Pacific region to obtain readiness support under the fund’s 2024-2027 replenishment cycle.
“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,” Finance Undersecretary Joven Balbosa said in a statement on Wednesday.
The grant, approved on June 24, 2026, will finance a 60-month program designed to help the country access more international climate financing and accelerate investments.
Balbosa said this would help improve climate resilience, support the transition to clean energy, strengthen food and water security, and protect vulnerable communities.
Unlike loans, grants do not have to be repaid.
“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,” GCF Regional Director for Asia and the Pacific Hemant Mandal said.
Balbosa said the program would strengthen the country’s institutional capacity to identify, prepare and implement climate projects that are aligned with the National Adaptation Plan and the Nationally Determined Contribution Implementation Plan.
The GCF’s Third Readiness and Preparatory Support Program will also enhance coordination among key government agencies involved in climate policy and financing while improving knowledge management, monitoring systems and project preparation.
Balbosa said the program was expected to improve the country’s ability to attract larger volumes of international climate finance by ensuring that proposed projects are aligned with national priorities and meet the requirements of global climate funding institutions.
The Finance Department said “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.
The Global Green Growth Institute will serve as the department’s delivery partner, while the United Nations Development Programme and Germany’s Deutsche Gesellschaft für Internationale Zusammenarbeit will act as co-implementers.
The country’s proposal was developed through a Finance Department-led consultation process involving several government agencies including the Environment, Agriculture and Science departments, Climate Change Commission and other key institutions.
Balbosa said the Finance Department had started preparing a second proposal under the GCF’s Country-Driven Readiness window that could provide up to an additional $3 million in grants.
“Together, the two proposals will help ensure that resources are mobilized and directed where they are needed most, delivering inclusive, evidence-based, and transformative impact,” the DOF said.
