The Bangko Sentral ng Pilipinas (BSP) highlighted the potential of blended finance to boost funding for climate adaptation and resilience during a forum at the BSP Head Office in Manila from 15 to 16 October 2025.
BSP Governor Eli M. Remolona, Jr. said that blended finance can play a transformative role in scaling adaptation finance.
“It is about being ready before the disaster strikes,” he said, recalling how areas with mangroves recovered more quickly after Typhoon Yolanda, a clear demonstration of what he called the “resilience dividend.” Despite the clear benefits of investing in resilience, adaptation finance is just five percent of total climate funding. “This is where blended finance comes in,” Remalona said.
Ritesh Thakkar, senior advisor and head of Asia Pacific of Convergence, described blended finance as “the use of catalytic capital from public or philanthropic sources to mobilize private sector investment for sustainable development.”
Co-organized by the BSP, Australia’s Department of Foreign Affairs and Trade, and Convergence, the “Blended Finance Forum for the Philippines” brought together representatives from government agencies, regulators, financial institutions, private enterprises, and development partners.
Participants exchanged insights on building a pipeline of investable adaptation projects, developing strategies to mobilize domestic capital, and applying blended finance solutions across key sectors, including agriculture, micro, small, and medium enterprises, and nature-based solutions.
A closed-door High-Level Leaders’ Roundtable Discussion attended by the Australian Ambassador to the Philippines Marc Innes-Brown, and Climate Change Commission Secretary Robert E.A. Borje was also featured. Facilitated by BSP Assistant Governor and Chief Sustainability Officer Pia Bernadette Roman-Tayag, the roundtable also included notable participants from government and the private sector.
The Blended Finance Forum forms part of the BSP Sustainability Agenda, which aims to mobilize finance for the country’s climate priorities and align with the National Adaptation Plan 2023–2050. PR
