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Manila Bulletin devider Business devider GCF approves P2.13-B agri resilience project

GCF approves P2.13-B agri resilience project

Published Mar 24, 2023 06:02 am
The Green Climate Fund (GCF) approved a funding program that aims to help the Philippines shift towards a climate-resilient agricultural system and raise climate resilience in rural areas, the Department of Finance (DOF) said. In a statement, the DOF said the United Nation-backed GCF approved the Adapting Philippine Agriculture to Climate Change (APA) project, costing $39.2 million, or P2.13 billion. According to the DOF, $26.3 million of the amount is financed by the GCF through a grant, while the Philippine government would co-finance the remaining $12.9 million. "The project builds on the Adaptation and Mitigation Initiative in Agriculture (AMIA) led by the Department of Agriculture (DA) through activities that will help the country shift towards a climate-resilient agricultural system and increase climate resilience in rural areas," the DOF said. This is the first GCF-funded project to be implemented by the DA and the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA), in collaboration with the Food and Agriculture Organization of the United Nations (FAO). The APA project will benefit some 1.25 million agricultural workers in areas vulnerable to climate change. "The project seeks to enable beneficiaries to incorporate viable Climate Resilient Agriculture (CRA) technologies into their practices and enhance capacities to develop CRA enterprises through its integrated technical support services, such as training, provision of appropriate production inputs, market access, as well as, access to financing," the DOF said. "The Project will also increase awareness about climate change, its risks, and its management towards improving food security, increasing household incomes, and enhancing resilience," it added. The APA project will be implemented in at least nine provinces identified as the most vulnerable climate change hot spots based on climate change projections. These areas are home to 60 percent of the Philippine rural population, or about 20 million out of 31.3 million rural people. More than half of the rural population most likely to be affected by the impacts of climate change reside within the project areas. The APA project is one of the three funding proposals of the FAO approved by the Board, and one of the seven proposals for consideration and approval during the 35th Board Meeting.
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