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Manila Bulletin devider Business devider NEDA sees PPPs as crucial for climate-resilient infrastructure

NEDA sees PPPs as crucial for climate-resilient infrastructure

Published Oct 16, 2024 07:07 am

The National Economic and Development Authority (NEDA) said public-private partnerships (PPPs) are vital in bolstering the Philippines' disaster resilience, particularly in developing climate-resilient infrastructure.

During the opening of the 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR), NEDA Secretary Arsenio Balisacan said a robust PPP governance framework is needed to finance climate-resilient infrastructure, given the limited fiscal space.

“Limited fiscal space, especially in the aftermath of the Covid-19 pandemic, necessitates developing our governance framework for public-private partnerships to finance climate-resilient infrastructure,” Balisacan said.

While most existing PPP projects focus on physical and digital connectivity, Balisacan said that the NEDA is also pursuing major water supply, flood control, and irrigation infrastructure projects to address the growing economic needs while ensuring climate resilience.

President Ferdinand R. Marcos Jr. echoed Balisacan's sentiments, emphasizing the need for increased investments in disaster risk reduction and the development of financing mechanisms to address related challenges.

“Sustained and predictable data and financing would help address disaster risks better,” Marcos said.

“This entails ensuring that developing countries, particularly the least-developed countries, landlocked countries, and small island developing states, are provided greater access to these resources to advance their policies and build disaster resilience,” he added.

He also announced that the Philippines had been selected to host the fourth Loss and Damage Fund Board meeting in December 2024.

The Board is a decision-making body mandated to lead the management of funds to assist climate-vulnerable developing countries and to respond to economic and non-economic loss and damage associated with the adverse effects of climate change.

With the theme “Surge to 2030: Enhancing Ambition in Asia-Pacific to Accelerate Disaster Risk Reduction,” the 2024 APMCDRR brought together governments, intergovernmental, international, national, and civil society organizations, the private sector, science, academia, and stakeholder groups. The objective is to accelerate the region’s progress in reducing disaster risk and meet the goals of the Sendai Framework for Disaster Risk Reduction 2015-2030. (Derco Rosal)

Related Tags

PPP projects National Economic Development Authority (NEDA) Public Private Partnerships NEDA SECRETARY Arsenio M. Balisacan
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