ADB approves climate loan to the Philippines

At Agus river basin (Photo: ADB)

Hanoi (VNA) – 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.

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

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

The infrastructure takes into account future climate change impacts and incorporates nature-based solutions such as restoring and reconnecting old river channels for natural drainage and reinforcing riverbanks with mangroves and vegetation planting, ADB said.

ADB Senior Water Resources Specialist Junko Sagara said climate change is expected to raise risks from extreme weather events. These river basin communities are highly vulnerable to climate-related hazards.

The project will help lessen these risks and improve income and livelihood opportunities, especially for the poor and vulnerable, he added./.

VNA