The Philippines’ Department of Finance reported on a joint review with the European Union (EU) of development cooperation and investment programs at an Oct. 1, 2026, meeting in Manila. Priorities centered on peace and good governance in Mindanao and the green and digital economy. Discussions covered investment projects under Global Gateway and plans to use EU grants and guarantees to support new investments and prospective loan financing. Investments in the green transition, circular economy, environmental protection and Mindanao development will receive EU grant support through blended finance and EU guarantees to reduce upfront investment risks. The financing approach envisages roles for the European Investment Bank, other European Development Finance Institutions and the EU private sector. Potential cooperation with multilateral development banks, particularly the Asian Development Bank, was also considered. The review covered ongoing investment operations addressing climate resilience, disaster risk reduction and water access. Regional discussions highlighted the ASEAN Power Grid’s role in energy integration and the green transition, alongside ongoing European support for the initiative. The Luzon Economic Corridor was considered as an emerging platform for connectivity and investment.
Philippines’ Department of Finance reports on EU cooperation review and plans for investment grants and guarantees
The Philippines’ Department of Finance outlined a joint review with the European Union of development cooperation, prioritizing Mindanao peace and governance and the green and digital economy. New investments and prospective lending will be supported by EU grants through blended finance and EU guarantees to reduce upfront investment risks, with European development finance institutions and private investors expected to play key roles.