Photo credit: DOF

Finance Secretary Frederick D. Go has locked in a major funding deal aimed at protecting the country’s marine resources while opening up more opportunities for coastal communities.

During a ceremonial signing on March 17, 2026, Go emphasized the bigger picture behind the investment—strengthening what’s known as the “blue economy,” or the sustainable use of ocean resources to drive growth.

“By strengthening the foundations of the blue economy, we are securing livelihoods, raising incomes, and reinforcing a vital engine of national growth—today and for the future,” he said.

At the center of the initiative is the Marine Ecosystems for Blue Economy Development Program, Subprogram 1 (MEBED1). The program focuses on improving the country’s ability to protect, restore, and sustainably manage marine and coastal ecosystems.

To support this, the Philippines secured €200 million in development financing from KfW Development Bank. The funding is expected to build on existing efforts while backing key reforms and projects that address long-standing challenges in coastal and marine areas.

More importantly, the program is projected to directly benefit over three million Filipinos—including fisherfolk, aquaculture workers, and those in tourism—by creating more stable and sustainable sources of income.

The agreement was signed by Go alongside KfW Management Committee Member Stephan Opitz, highlighting a shared commitment to balancing environmental protection, climate resilience, and economic growth.

Also present at the event were Department of Finance Undersecretary Joven Z. Balbosa and German Embassy Deputy Head of Mission Mathias Kruse, underscoring the strong partnership behind the initiative.

With this funding in place, the government is betting big on the country’s oceans—not just as natural resources to protect, but as a key driver of inclusive growth for years to come.