The German government has extended its financial obligation to the Philippines and has granted financial protection to the forests of Panay.
Germany agreed to provide 4-million Euros (or approximately 200-million pesos) for the Forest and Climate Protection Panay Phase II. The forest is located on the large island in the Visayan region. The agreement was signed last Thursday between the Environmental Secretary, Ramon Paje and German Ambassador to the Philippines, Thomas Ossowski. With the signing came the assurance that Panay Island forests are protected during the next three years and nine months. Panay Island is listed as the sixth largest island in the Philippines, and the third largest in the Visayas – it is comprised of four provinces, namely Iloilo, Capiz, Antique and Aklan. The project seeks to conserve the last remaining larger block of natural forest with globally important biodiversity on Panay Island.
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