PBBM presents landmark PSF-approved climate adaptation funds worth over PHP 541-M to LGU beneficiaries

President Ferdinand R. Marcos, Jr. has officially presented the People’s Survival Fund (PSF) Resolutions approving a historic amount of over PHP 541 million for climate adaptation projects to local government unit (LGU) beneficiaries, marking a significant stride in the nation’s battle against climate change.

Established under Republic Act No. 10174 in 2012, the PSF had an initial capitalization of PHP 1 billion to finance adaptation programs and projects of LGUs and accredited local and community organizations.

The recent approval of the six (6) new climate adaptation projects worth over PHP 541 million brings the total number of PSF-funded projects to 11 climate adaptation initiatives and 6 projects for Project Development Grants (PDG), amounting to a combined PHP 889.6 million. This increased the PSF’s utilization rate to 89 percent, leaving only 11 percent of the initial allocation of PHP 1 billion.

The PSF Board hopes that the Fund will be replenished to finance new project proposals.

Among the beneficiaries, the Provincial Government of Mountain Province, led by Governor Bonifacio C. Lacwasan, Jr., received a grant worth PHP 271.15 million for the construction of a Climate Field School (CFS) for farmers.

The CFS, which will be constructed inside the Mountain Province State Polytechnic College’s (MPSPC) 285-hectare Paracellis Campus, aims to increase the yields of the agriculture and fisheries sectors and mitigate the risks of climate change through good agricultural practices and sustainable resource management.

Meanwhile, the Province of Maramag, Bukidnon, represented by Mayor Jose Joel P. Doroma, secured a PSF grant worth PHP 126.40 million for the installation of drainage and early warning systems as well as the development of the agroforestry industry.

The project, which underwent Climate Rationale Review and Evaluation (CRRE) and the Climate Change Commission’s (CCC) validation process, aims to reduce flood risks as well as build the climate resilience and adaptive capacity of vulnerable communities and the local governance of Maramag.

Specifically, the project has four (4) main components namely, Improved Flood Management System, Strengthened River