World Bank okays $4.9-million grant for RP climate change project

MANILA, Philippines - The World Bank has approved a $4.974-million grant for climate change adaptation project in the Philippines to enable targeted rural communities to cope with the impact of climate change.

The project called the Climate Change Adaptation Project (CCAP) aims to develop and demonstrate cost-effective adaptation strategies in agriculture and natural resources management and strengthen the country’s institutional framework for climate change adaptation.

World Bank country director Bert Hofman said the project will enhance rural communities’ capacity to adapt to climate change by improving farm management capability under conditions of climate risk, enhancing access to information on weather forecasting and climate patterns, and improving access to risk management options such as weather index insurance, among others.

“The primary beneficiaries of this grant include poor farmers who often suffer climate-related losses, and other vulnerable groups that depend on natural resources for their livelihoods,” Hofman said.

The $4.974-million grant for the CCAP will come from the Global Environment Facility (GEF) Trust Fund being implemented by the World Bank. The project will also be supported with $40.45 million co-financing from the Participatory Irrigation Development Project (PIDP) and another $10 million from the Environment and Natural Resources Management Project (ENRMP), two ongoing government projects which are also financed by the WB.

The Philippines has one of the highest exposures to climate change risks – including typhoons, floods, landslides, and droughts – of any country in the world.