France okays P15.9-B climate change action loan to PH

The French government, through the Agence Française de Développement, has approved a 250-million euro (P15.9-billion) loan to the Philippines for climate change mitigation projects.

The loan is for the Climate Change Action Program Phase 2 (CCAP2), the French embassy said during the ceremonial exchange with the Department of Finance on Monday.

It noted that CCAP2 builds on the momentum of phase one, which boosts climate adaptation and mitigation through policy reforms and institutional frameworks.

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CCAP2 also promotes a “just transition” by upgrading rural resilience and integrating gender-responsive strategies, recognizing the disproportionate impacts of climate change on marginalized groups, it said.