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DENR, EU inks a 60-million euros bilateral agreement on green economy

(From left to right) EU Ambassador to the Philippines Luc Veron, European Commission President Ursula von der Leyen, President Ferdinand Marcos Jr., and DENR Secretary Antonia Loyzaga formalizes close cooperation in facilitating the implementation of the Green Economy Program in the Philippines (Photo courtesy: Presidential Communications Office) 

QUEZON CITY, (PIA) – The Philippine government received the support of the European Union (EU) in its long-term aim to institutionalize the country’s transition to green economy. 

On Monday (July 31)  Department of Environment and Natural Resources (DENR) Secretary Antonia Loyzaga and the EU Ambassador to the Philippines Luc Veron signed a bilateral agreement between to formalize the parties’ Joint Declaration on the Green Economy Program in the Philippines (GEPP). 

President Ferdinand Marcos Jr. and European Commission President Ursula von der Leyen witnessed the ceremonial signing during the latter’s official visit to the Philippines for the establishment of important partnerships, particularly in areas of environmental protection and climate change mitigation. 

Under the agreement, the EU committed to provide a grant worth 60 million euros to the Philippines to fund the implementation of the GEPP which primarily caters to the advancement of sustainability initiatives including the promotion of circular economy and deployment of renewable energy. 

Meanwhile, President Marcos expressed his gratitude to the EU and its member states for sharing the environmentally-sound vision of the country. 

"I am deeply thankful for the EU’s support and I sincerely wish and hope that this warm kinship developing between us will set the tone of the relationship and enrich the enduring bonds of friendship between our governments and peoples in the years to come," said the President, highlighting that this partnership can further aid in attaining a stable path to economic recovery. 

To recall, the DENR issued an administrative order in 2017 to contextualize the programs and projects of the agency to green economy models (GEM). It entails the promotion of green economy by enabling the households to be part of a community enterprise and yield environmental products while actively engaging in the rehabilitation activities of the agency.

On the other hand, the two leaders also convened in a bilateral meeting prior to the signing of the joint declaration where they laid out other potential partnerships including the revitalization of the Philippines-EU Free Trade Agreement (FTA), extension of the recognition of the Standards of Training Certification and Watchkeeping (STCW) for over 50,000 Filipino seafarers onboard EU-flagged vessels, and the installation of ‘Eyes in the Sky’ early warning system through the EU’s Global Gateway initiative. 

The EU is currently the fourth largest trading partner of the Philippines.

The strengthened cooperation between the EU and the Philippines signifies their almost 60-year diplomatic ties. (PIA-NCR)

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