PGMA’s Copenhagen trip generates $310M in environment projects

President Gloria Macapagal-Arroyo’s trip to Denmark generated $310 million worth of programs and projects for the Philippines.

Of this, $250 million came from the Clean Technology Fund of the World Bank and the Asian Development Bank. The fund recognizes the leadership of the Philippines and the President in tackling climate change in Asia.

Another $50 million came from the Global Environmental Fund while $10 million in support of local water utilities came from the international investment fund of Denmark.

In a radio interview this morning, Press Secretary Cerge Remonde said the President took time to advance the country’s interest by meeting with representatives of Danish and Swedish companies with investments in the Philippines to discuss the country’s positive economic outlook and investment prospects.

“The business leaders expressed their confidence in our country’s ability to continue weathering the global storm and acknowledged the stability and improved business environment that we have been able to achieve through our economic reforms over the last nine years,” Remonde said.

The President arrived early this morning from Copenhagen, Denmark, where she attended the Conference of Parties (COP-15) to the United Nations Framework Convention on Climate Change.

During her two-night stay in Copenhagen, the President delivered a statement under the high-level segment of the COP and the opening statement under the segment, Climate Finance: Challenge and Opportunities for Developing Countries.

The President flew in at 5:30 this morning aboard chartered Philippine Airlines PR001 that landed at the Ninoy Aquino International Airport (NAIA) Centennial Terminal 2 in Pasay City.  (full story - 11.17.09)