The Philippines secured a PHP8.7 million grant from the Adaptation Fund (AF) to develop a climate adaptation project that will strengthen the resilience of Mindanao’s farmers and safeguard the country’s food security, the Department of Finance (DOF) said.
In a statement Thursday, the Finance department said the AF Board approved the grant during its 45th Board Meeting held from Oct. 6 to 10 in Bonn, Germany.
A grant is a form of financial aid conferred by governments or development partners that is free of charge or does not require repayment.
The AF is a global climate fund that supports projects helping vulnerable countries adapt to the impacts of climate change in line with their priorities.
The Philippines, through the DOF, sits on the AF Board as a representative of the Non-Annex I Parties, which comprise developing nations.
The grant will be used for the development of the Agricultural Interventions for Development: Harnessing and Enhancing Adaptation and Resilience Tools and Strategies for the Philippine Fruit and Vegetable Industry project, whose concept note was also approved by the AF Board in the same meeting.
The project seeks to boost the adaptive capacity of farming communities across Mindanao through strategic investments in shared service facilities, sustainable agriculture financing and policy reforms.
These efforts aim to equip farmers with concrete tools and technologies to withstand the worsening impacts of climate change and extreme weather events, ensuring food security and protecting livelihoods.
The United Nations Industrial Development Organization and the Mindanao Development Authority will jointly lead project development and implementation.
Aside from the Mindanao project, the DOF said a PHP796 million regional project called Strengthening Climate Resilience and Food Security is in the pipeline to enhance rice production resilience in both the Philippines and Malaysia through climate-smart technologies and advanced climate intelligence systems.
To further accelerate access to climate finance, the DOF is pursuing accreditation as a National Implementing Entity of the AF, enabling the Philippines to directly channel resources to vulnerable communities that need them most. (PNA)
