The Department of Finance (DOF) has secured a USD 6.78 million technical assistance grant from the Green Climate Fund (GCF) to strengthen the country’s capacity to access and implement climate investments that will help protect communities from the impacts of climate change, accelerate the transition to clean energy, and support sustainable and inclusive economic growth.

Grants are aids given by development partners with no obligation for repayment.

The approval of the Third Readiness and Preparatory Support Programme (RPSP 3) makes the Philippines the first country in Asia and the Pacific to access GCF readiness support under the Fund’s second replenishment period (GCF-2) covering 2024 to 2027.

“We welcome the GCF’s approval of this grant. More than financial support, it is an investment in the Philippines’ ability to turn climate ambition into action and deliver lasting benefits for the Filipino people,” Undersecretary Joven Z. Balbosa said.

Approved on June 24, 2026, the 60-month program will strengthen the country’s capacity to access, develop, and implement climate investments aligned with the National Adaptation Plan (NAP) and the Nationally Determined Contribution Implementation Plan (NDCIP).

In addition, RPSP 3 will strengthen inter-agency coordination among key climate institutions, develop a robust pipeline of projects aligned with national priorities, and enhance knowledge management and monitoring systems.

The program is expected to help mobilize more international climate financing for projects that enhance climate resilience, strengthen food and water security, support the transition to cleaner energy, and protect vulnerable communities.

The Global Green Growth Institute (GGGI) will serve as the DOF’s Delivery Partner, with the United Nations Development Programme (UNDP) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) serving as co-implementers.

Developed through an extensive DOF-led consultative process, RPSP 3 incorporates inputs from the Department of Environment and Natural Resources (DENR), Climate Change Commission (CCC), Department of Agriculture (DA), Department of Science and Technology (DOST), and other key institutions, reflecting strong national ownership and alignment with the country’s climate and sustainable development priorities.

Building on this milestone, the DOF has begun preparing a second proposal under the GCF Country-Driven Readiness window, which may provide up to USD 3 million in additional grant support.

“This readiness grant from the GCF will strengthen climate action in the Philippines by enhancing institutional capacity, reinforcing existing coordination mechanisms, and accelerating the development of a strong project pipeline further supporting country ownership,” GCF Regional Director for Asia and the Pacific Hemant Mandal said.

Through RPSP 3, the DOF aims to create an enabling environment for climate investments and accelerate the country’s transition toward a resilient, low-carbon, and sustainable future.

Together, the two proposals will help ensure that resources are mobilized and directed where they are needed most, delivering inclusive, evidence-based, and transformative impact.

The DOF is the Philippines’ National Designated Authority (NDA) to the GCF, leading efforts to access climate financing and ensure projects align with national priorities.