Ceremonial Exchange of the Credit Facility Agreement (CFA) for the Climate Change Action Program, Subprogram 2 (CCAP2) between the Government of the Republic of the Philippines (GPH) and the Agence Française De Développement (AFD)

  • Post category:Speeches

Ralph G. Recto
Secretary of Finance

June 2, 2025
1:30 PM

Her Excellency Marie Fontanel, French Ambassador to the Philippines; AFD Country Director Benedicte Gazon; partners in development; fellow workers in the government: Good afternoon.

Let me begin by extending my gratitude to the French Government for your continued trust and generous support to the Filipino people.

Our two countries have long shared a bond beyond politics and formalities. For a decade now, our partnership has been built on our shared values—and today, it is strengthened by our common resolve to address climate change.

In fact, France has consistently stood with us as one of our staunchest allies in defending our people from the impacts of global warming.

Through your support, we are advancing a gender-responsive implementation of our Nationally Determined Contributions, strengthening disaster risk management, and laying the foundation for a circular economy that redefines how we grow.

And today, we take another decisive step forward together.

This 250-million Euro concessional financing agreement from France is a vote of confidence in the Filipino people and our shared vision of a greener, safer, and more resilient future.

With this agreement, we strengthen our strategic cooperation on climate action, reinforce our institutional capacities, and accelerate the delivery of real, lasting change—especially for the most vulnerable.

This is the kind of meaningful partnership the time demands—ambitious, strategic, and purposeful.

And so, on behalf of the Filipino people, maraming salamat po. Thank you for being more than a trusted ally—but a genuine partner in purpose for a more sustainable tomorrow.

You can count on the part of the Philippine government’s commitment. We will implement these reforms with urgency and integrity. We will ensure that every euro invested and every collaboration will translate to a meaningful impact in the lives of ordinary Filipinos.

We look forward to deepening our partnership with the French government and the AFD toward a climate-resilient and low-carbon future.

Mabuhay po kayong lahat. Mabuhay ang Bagong Pilipinas!

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