$10 million financing secured for disaster mitigation project
Janvic Mateo (The Philippine Star) - November 14, 2019 - 12:00am

MANILA,Philippines — The Philippines has secured a $10-million grant from the Green Climate Fund (GCF) for the establishment of an impact-based forecasting and early warning system to communities at risk of natural hazards.

The GCF Board, during its meeting in South Korea on Wednesday, approved the first proposal submitted by the Philippines to the climate finance mechanism, which was created to support the efforts of developing countries to respond to the challenge of climate change.

The project involves the establishment of a multi-hazard impact-based forecasting and early warning system, which aims to strengthen and ensure the delivery of actionable and timely early warning to communities at risk of impending disasters.

“The board’s decision to approve this project comes at a critical time as we commemorate this November the onslaught of Typhoon Yolanda in the Philippines six years ago,” said Deputy Speaker and Antique Rep. Loren Legarda, who also sits as an alternate member of the Asia-Pacific Group to the GCF Board.

“The experiences and lessons we gained from Yolanda and other disasters necessitated the need for a project like this that can translate risk and hazard information into understandable and actionable early warnings, so our citizens remain safe and aware,” she added.

Climate Change Commissioner Rachel Herrera said accessing the GCF has been a priority of the agency, stressing that the country’s strong advocacy for climate action and climate justice must be matched by an efficient system to access climate finance.

“We are overjoyed with the approval of our very first GCF country proposal, which is the product of convergence among agencies, organizations and stakeholders who contributed to the development and submission of this project,” she said.

“This is just the beginning. The CCC, as the national designated authority to the GCF, will remain determined to access more climate finance that can enable genuine and lasting resilience for our vulnerable communities,” added the climate body official.

Project details released by the GCF showed that the Philippine proposal is expected to benefit over 8.5 million Filipinos.

The total cost is $20.2 million, with the Philippine government allotting the remaining funding requirement of $10.2 million.

According to the CCC, the project aims to translate hazard forecasts into warnings that can convey location- and sector-specific impacts, providing tailored climate risk information directly to LGUs and communities on the ground. 

The GCF funding will be channeled to the Land Bank of the Philippines, while the Philippine Atmospheric, Geophysical and Astronomical Services Administration will be the lead executing agency.

Also part of the project are the local governments of Tuguegarao, Cagayan; Legazpi, Albay; Palo, Leyte; and New Bataan, Davao de Oro (Compostela Valley), which will also be the project’s target sites.

The GCF was set up by 194 countries that are parties to the United Nations Framework Convention on Climate Change.

GREEN CLIMATE FUND
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