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Manila Bulletin devider Business devider DBM releases P579 million for flood control, green projects

DBM releases P579 million for flood control, green projects

Published Aug 7, 2024 07:56 am

The government released around P579 million to fund projects, such as flood controls, in eight regions under the People’s Survival Fund (PSF).

Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman has approved the release of a notice of cash allocation (NCA) amounting to P579.312 million to the Bureau of the Treasury to finance climate projects.

“Mitigating climate change is not just a policy directive but a personal advocacy for me. How can we safeguard our future if we neglect our environment?” Pangandaman said.

“We are giving all the necessary aid for our local government units (LGUs) to undertake projects crucial for enhancing resilience and sustainable development. Through the People’s Survival Fund, we empower local communities in the fight against the climate crisis,” she added.

Established through Republic Act No. 10174, the PSF provides long-term financing to LGUs and accredited local or community organizations for climate change adaptation programs.

It aims to enhance the country's adaptive capacities, ensure sustainable development, and protect vulnerable communities from the adverse impacts of climate change.

The allocation will fund six development grants, five full-scale projects, and extra support for two ongoing projects spread across the country, particularly in Northern and Eastern Samar, Mountain Province, Bukidnon, Isabela, Quezon, Province of Sarangani, and Agusan del Norte.

The DBM said that one focus of the fund is flood controls, which will prevent flooding and protect lives and property in vulnerable areas.

In coastal regions, investments are made in building seawalls and other coastal defense structures, which are crucial for safeguarding communities from storm surges and coastal erosion.

The PSF also supports the agricultural sector, particularly in developing climate-resilient crop varieties and sustainable farming practices to ensure food security in changing climate conditions.

It also finances early warning systems that will allow communities to respond quickly to natural disasters and reduce damage.

The fund also covers environmental restoration projects such as reforestation and mangrove restoration, which contribute to carbon sequestration, biodiversity conservation, and coastal protection against storm surges and erosion.

For next year, the Marcos administration plans to allocate a total of P1 billion to the PSF, based on the proposed National Expenditure Program.

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Department of Budget and Management (DBM) People's Survival Fund Flood control projects
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