The European Union (EU) and the Philippine government, through the Department of Finance (DOF), yesterday launched two new programs on agricultural production and disaster resilience.
These two programs are the 20-million euro (about P1.14 billion) Bangsamoro Agri-Enterprise Programme (BAEP), which is a new five-year program to boost local agricultural production and improve the investment climate in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), and the 10- million euro (P570 million) National Copernicus Capacity Support Action Programme for the Philippines (CopPhil), which is a nationwide three-year program to reduce vulnerability from natural disasters.
Th ceremonial exchange of the financing agreements between the EU and the Philippines for the two programs was held at the DOF office in Manila yesterday.
“This assistance from the EU will support the Duterte administration’s already heightened efforts to boost farm productivity and achieve inclusive growth in the BARMM and further strengthen the country’s climate resilience in the face of global warming,” Carlos Dominguez, DOF secretary, said.
The EU delegation to the Philippines said in a statement that the two financing agreements will address the most pressing needs in the country: disaster preparedness and poverty reduction; and the cycle of vulnerability linking the two.
Both programs will begin in 2022, working closely with the partners from the involved governmental bodies.
“In line with the principles of the European Green Deal, the Copernicus and Bangsamoro Agri-Enterprise programs will enhance climate change resilience in the Philippines while strengthening key productive sectors including agriculture and ecosystem management,” said Luc Véron, EU ambassador. Angela Celis