The European Union (EU) and the Philippines recently convened the 5th Meeting of the Sub-Committee on Development Cooperation in Brussels, Belgium, wherein both sides reaffirmed their shared interests and values under the EU-PH Partnership and Cooperation Agreement.
The meeting was co-chaired by Mario Ronconi, Head of Unit South and South-East Asia from the European Commission’s Directorate General for International Partnerships; and Assistant Secretary Donalyn Minimo of the Department of Finance (DOF) International Finance Group. EU Ambassador to the Philippines Massimo Santoro and Philippine Ambassador to the EU Jaime Victor Ledda also participated.
The Philippine Government delegation included officials from the DOF; Department of Economy, Planning, and Development; Department of Environment and Natural Resources; Department of Foreign Affairs; Philippine Embassy in Brussels; Department of Trade and Industry; Philippine Trade and Investment Center in Brussels; Office of the Presidential Adviser on the Peace Process, Reconciliation and Unity; Mindanao Development Authority; Ministry of Agriculture, Fisheries, and Agrarian Reform of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM); Bangsamoro Planning and Development Authority; Court of Appeals; Commission on Human Rights; Department of Science and Technology; Philippine Space Agency; and Maritime Industry Authority.
The Sub-Committee conducted a comprehensive review of key ongoing cooperation programs, focusing on two priority areas: (1) the Mindanao peace process and good governance, and (2) the green and digital economy.
The Philippines presented the country’s economic performance and growth outlook, and showcased its strategic development priorities, as reaffirmed by the review in the Philippine Development Forum the previous month. The EU, for its part, confirmed the overall policy framework under the EU’s Multiannual Financial Framework for 2021-2027, guided by Global Gateway, the EU’s strategy to promote smart, clean, and secure connectivity in the digital, energy, and transport sectors.
In addition, particular attention was placed on the active development of Global Gateway investment projects, for both government-to-government operations and at the private sector level, as well as the recent agreement on the EUR20 million (PHP 1.36 billion) EU-PH Digital Economy Package. Ongoing investment operations on disaster risk reduction and management and water/waste facilities were also reviewed.
New investments in key areas, like green transition, circular economy, environmental protection, Mindanao’s development, and prospective loan financing will be supported with EU grants (blended finance) and EU guarantees to de-risk upfront the investment. The roles of the European Investment Bank (EIB) and other European Development Finance Institutions (EDFIs) – in a Team Europe approach – are seen crucial, alongside potential cooperation with multilateral development banks, in particular with the Asian Development Bank.
The meeting likewise covered prospective future cooperation on the sustainable use of critical raw materials and green finance. The Sub-Committee recognized the relevance of regional cooperation within the framework of the EU-ASEAN Team Europe Initiatives, including the broad Sustainable Connectivity Package, the specific support to seafarers’ action, the recent expansion of EU Copernicus Earth Observation actions from the Philippines to Indonesia and Thailand, and further expansion to other SEA countries.
The EU and the Philippines confirmed their commitment to continue strengthening the implementation of EU programs, noting they are already in line with the priorities of the Philippine Government and Global Gateway. The EU reaffirmed its long-term support for the country’s green and digital transition, good governance, and the peace process and socioeconomic development of Mindanao, while recognizing the essential role of civil society in the effective implementation of ongoing programs and driving future cooperation.
