KOICA and GGGI partner to develop GCF projects in the Philippines

The Korea International Cooperation Agency (KOICA) and the Global Green Growth Institute (GGGI) Philippines signed a US $700,000 (Php 38.5 Million) grant arrangement designed to conduct needs assessment, provide capacity development and develop two project concept notes for the Green Climate Fund (GCF). With overall guidance from KOICA, GGGI will utilize its technical expertise to consolidate priority sectors and themes as well as assess potential project ideas. GGGI welcomes KOICA’s financial backing as the project entails extensive consultations, field work and in-depth research, which would need sufficient funding to move forward. KOICA and GGGI recently held a consultation session with the Department of Finance, GCF’s National Designated Authority in the Philippines, and key national government agencies, including the Department of Environment and Natural Resources, Department of Trade and Industry, Department of Energy and Department of Agriculture, to discuss and identify viable and scalable climate mitigation and adaptation project concepts.

One such concept is agricultural waste management which has a huge potential for scalability and impact to accelerate the country’s transition towards a circular economy. For instance, the Philippines is the second largest producer of pineapples globally. Hence a greater demand for agri-wastes from this sector to be managed properly. Discarded pineapple leaves can become a sustainable source of fiber-based materials to produce locally-made specialty paper and other export-quality products. Likewise rice wastes such as rice straw can be used to produce cellulose-based bioplastic materials to reduce greenhouse gas emissions. Similarly notable ideas were also discussed, including climate-tech start-up development, and nature-based solutions, including bamboo reforestation and biodegradable plastics.

GGGI will conduct a detailed sectoral needs assessment together with KOICA and government stakeholders, while providing necessary capacity development support for national agencies to enhance capacity to develop robust project pipeline.

KOICA has been approved as an Accredited Entity for the Green Climate Fund since July 1, 2021.