MANILA, Philippines — The government has greenlighted over P500 million projects meant to aid climate vulnerable areas in the Philippines.
In a statement, the Department of Finance said the People’s Survival Fund (PSF) board recently approved P539 million worth of climate adaptation projects.
The PSF was established to finance adaptation programs and projects of LGUs and accredited local and community organizations.
The biggest project is the P271.15-million climate field school for farmers in Mountain Province. This is followed by the installation of drainage and early warning systems and the development of the agroforestry industry in Maramag, Bukidnon worth P126.4 million.
The government is also allocating P118 million for the installation of embankment infrastructure and reforestation for enhanced flood control of Lo-om River in Borongan City, Eastern Samar.
Another P21.28 million is earmarked for the construction of three solar powered irrigation systems in Cabagan, Isabela while the remaining P2.63 million is allotted for the mangrove rehabilitation project in Catanauan, Quezon.
In approving the projects, the PSF board considers the level of risk and vulnerability to climate change, participation of affected communities in the design of the project, poverty reduction potential, and cost effectiveness and attainability of the proposal.
The board likewise takes into account the identification of potential co-benefits extending beyond local government territory, maximization of multi-sectoral or cross-sectoral benefits, responsiveness to gender-differentiated vulnerabilities, and availability of climate change adaptation action plan.
“The DOF will continue to address the delays in the current system by improving processing time and providing sufficient resources to assist our proponents,” Finance Secretary Benjamin Diokno said.
The PSF has an initial capitalization of P1 billion to aid LGUs and accredited local and community organizations in implementing climate change adaptation projects.
To date, P887.63 million has already been allocated to 11 projects and six development grants.
Chaired by the DOF, the PSF board consists of the Climate Change Commission, National Economic and Development Authority, Department of Interior and Local Government, and the Philippine Commission on Women, as well as representatives from the academe and science community, business sector and the non-government organization sector.