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ADB approves climate loan to the Philippines

The Asian Development Bank (ADB) on September 13 announced that it has approved a 303 million USD loan to reduce flood and climate risks and protect people and livelihoods in three major river basins in the Philippines.
ADB approves climate loan to the Philippines ảnh 1At Agus river basin (Photo: ADB)
Hanoi(VNA) – The Asian Development Bank (ADB) on September 13announced that it has approved a 303 million USD loan to reduce flood andclimate risks and protect people and livelihoods in three major river basins inthe Philippines.

The Philippines is one of the countries most vulnerable to the effects of climate change and disasters caused by naturalhazards.

The Integrated Flood Resilience and AdaptationProject – Phase 1 will upgrade and construct flood protection infrastructure inthe Abra river basin in the country’s northern Luzon region and the Ranao/Agusand Tagum–Libuganon river basins in the southern Mindanao region.

The infrastructure takes into account futureclimate change impacts and incorporates nature-based solutions such asrestoring and reconnecting old river channels for natural drainage andreinforcing riverbanks with mangroves and vegetation planting, ADB said.

ADB Senior Water Resources Specialist JunkoSagara said climate change is expected to raise risks from extreme weatherevents. These river basin communities are highly vulnerable to climate-relatedhazards.

The project will help lessen these risks andimprove income and livelihood opportunities, especially for the poor andvulnerable, he added./.
VNA
#Asian Development Bank#Vietnamplus#Vietnam News Agency#Integrated Flood Resilience and Adaptation Project#ADB Senior Water Resources Specialist Junko Sagara
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