MANILA, Dec 11 (Reuters) – The Asian Development Bank has approved a $500 million policy-based loan to support the Philippines’ blue economy, focusing on protecting its ‍marine ecosystem against threats posed by extreme weather and plastic pollution.

The programme, which will be co-financed by Agence Française de Développement and Germany’s KfW Development Bank with each providing about $235 million, aims to ensure ecological resilience as the Philippines ‌taps its ocean resources through industrial fishing, ‌tourism and offshore energy.

“This is ADB’s first extensive cross-sector program focused on fostering national blue economy development in the region,” ADB Philippines Country Director Andrew Jeffries said in a statement.

“We are committed to assisting our host country in achieving

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