People’s Survival Fund Board approves PHP 539 million-worth of climate adaptation projects
The People’s Survival Fund (PSF) Board, under the leadership of its chair Finance Secretary Benjamin E. Diokno, approved PHP 539 million-worth of new climate adaptation projects.
The People’s Survival Fund (PSF) was established under Republic Act No. 10174 to finance adaptation programs and projects of local government units (LGUs) and accredited local and community organizations.
The newly-approved projects will be implemented in the climate vulnerable areas of Mountain Province, City of Borongan, and Municipalities of Maramag, Cabagan, and Catanauan.
These projects include:
Installation of drainage and early warning systems and the development of the agroforestry industry in Maramag, Bukidnon worth PHP 126.40 million;
Irrigation project in Cabagan, Isabela involving the construction of 3 solar powered irrigation systems worth PHP 21.28 million;
Mangrove rehabilitation project in Catanauan, Quezon worth PHP 2.63 million;
Installation of embankment infrastructure and reforestation for enhanced flood control of Lo-om River in Borongan City, Eastern Samar worth PHP 118 million; and
Climate field school for farmers in Mountain Province worth PHP 271.15 million.
In deciding which projects to approve, 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, cost effectiveness and attainability of the proposal, identification of potential co-benefits extending beyond LGU territory, maximization of multi-sectoral or cross-sectoral benefits, responsiveness to gender-differentiated vulnerabilities, and availability of climate change adaptation action plan.
The PSF has an initial capitalization of PHP 1 billion to aid LGUs and accredited local/community organizations in implementing climate change adaptation projects. To date, PHP 887.63 million of the PHP 1 billion has been allocated to eleven (11) projects and six (6) Project Development Grants, leaving only a balance of PHP 110.36 million in the PSF.
“I commend the Board and its members for its efforts to expedite the approval of the new projects, allowing us to fully utilize the disbursement of one