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The EU and the Philippines signed the 60-million-euro financing agreement for the Green Economy Program at the Global Gateway Forum in Brussels.
To achieve this, the EU will collaborate with the national government, local government units, and the private sector to promote green investments, bonds, and skills, focusing on greener supply chains and production processes. European Commissioner for International Partnerships, Jutta Urpilainen, said: “The Team Europe Initiative on Green Economy is a testament to the power of cooperation in addressing today’s pressing challenges. With a significant contribution of €60 million through the Green Economy Program, we are helping to build a circular economy, promoting sustainable practices, and supporting climate change mitigation.
The EU has long been a key supporter of the Philippines especially in the aftermath of natural disasters. The EU-Philippines Partnership and Cooperation Agreement, ratified in January 2018, lays the foundation for deeper collaboration.
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