The Philippines has secured a €200 million policy-based loan, equivalent to approximately ₱14 billion, from the French development bank Agence Française de Développement (AFD) to fund marine ecosystem protection and expand sustainable livelihoods. According to the Department of Finance (DOF), the financing supports the first phase of the Marine Ecosystem for Blue Economy Development program, known as MEBED 1.
MEBED 1 Program Targets Livelihoods and Climate Resilience
Announced on August 13, 2026, the policy-based loan supports critical policy reforms in marine ecosystem protection, solid waste management, and blue economy investments. Over three million individuals—spanning tourism workers, aquaculture operators, and fisherfolk—are anticipated to gain sustainable income sources from the program, the DOF notes. Finance Secretary Frederick D. Go emphasized the initiative’s dual role in safeguarding coastal populations and upgrading environmental defenses. “By securing our marine resources, we are protecting the livelihoods of millions of coastal residents and strengthening our defenses against climate change,” Go stated during the ceremonial exchange of financing agreements, adding that cleaner oceans mean a healthier, more productive blue economy.
Co-financing the initiative is the Asian Development Bank (ADB), which partners with the French and Philippine governments to advance environmental sustainability, climate resilience, and inclusive economic growth. French Ambassador Marie Fontanel noted that the program will help protect marine biodiversity, reduce ocean plastic pollution, and create sustainable economic opportunities. Meanwhile, AFD Country Director for the Philippines Benedicte Gazon reaffirmed France’s ongoing commitment to supporting the country’s push for sustainable growth and ecosystem resilience.
Did You Know? The €200 million marine protection loan follows another major ₱14 billion financing agreement secured by the Department of Finance from France through the AFD just days prior, which targeted the Reducing Food Insecurity and Undernutrition with Electronic Vouchers (REFUEL) project.
Broader Financial Partnerships and Environmental Goals
The MEBED 1 program operates as part of a wider framework involving international financial institutions and bilateral partners. By combining resources from the AFD and the Asian Development Bank, the Philippine government aims to attract further investments into the nation’s blue economy while addressing structural challenges in solid waste management.
Frequently Asked Questions
What is the primary purpose of the MEBED 1 program?
The program funds policy reforms in marine ecosystem protection, solid waste management, and blue economy investments in the Philippines.
Who provided the financing for the initiative?
The €200 million (approximately ₱14 billion) loan was secured from the French development bank Agence Française de Développement (AFD) and is co-financed by the Asian Development Bank.
How many people are expected to benefit from the program?
Tourism workers, aquaculture operators, and fisherfolk are among the upwards of three million people estimated by the Department of Finance to receive sustainable livelihood opportunities through the plan.
How will these marine protection reforms directly impact coastal communities in your region?
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