US EditionADB OKs $500m Loan to Boost Philippines’ Blue Economy and Marine Resilience
The loan supports legal frameworks, waste management, and resilience against extreme weather and plastic pollution, with 750,000 metric tons of plastic entering oceans annually in the Philippines.
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ADB approves $500-million loan to support Philippines' blue economy - BusinessWorld Online
The Asian Development Bank (ADB) has approved a $500-million (around P29.56 billion) policy-based loan to support the development of the Philippines’ blue economy. The financing for the Marine Ecosystems for Blue Economy Development Program Subprogram 1 was approved on Thursday, the multilateral lender said in a statement. This loan seeks to “strengthen the productivity and diversity of the country’s ocean-based economy, and improve the health a…
ADB approves $500 million loan to support a sustainable Philippine blue economy
MANILA — The Asian Development Bank has approved a $500 million policy-based loan to support the Philippines’ blue economy, focusing on protecting its marine ecosystem against threats posed by extreme weather and plastic pollution. The program, which will be co-financed by Agence Française de Développement and Germany’s KfW Development Bank with each providing about $235 million, aims to ensure […] The post ADB approves $500 million loan to supp…
Philippines Secures $470M Boost for Blue Economy Initiatives
The Philippines is set to receive a significant financial boost to support its blue economy initiatives, as Agence Française de Développement (AFD) and Germany’s KfW Development Bank have pledged to provide co-financing of approximately US$235 million each. This move comes in addition to the funding from the Asian Development Bank (ADB) and aligns with the country’s recent legislative efforts to… Source
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