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The Manila-based Asian Development Bank (ADB) announced this week that it has approved a $303 million loan to fund flood control and climate risk-related projects in the country.
A scene from Typhoon Ondoy back in 2009 I Photo: AusAID / Department of Foreign Affairs and Trade
In a statement, ADB said the loan aims to "protect people and livelihoods in three major river basins in the Philippines, one of the most vulnerable countries to the effects of climate change and disasters caused by natural hazards."
The loan will finance upgrades and the construction of the Integrated Flood Resilience and Adaptation Project – Phase 1 in the Abra river basin in the northern Luzon region, as well as the Ranao/Agus and Tagum–Libuganon river basins in the southern Mindanao region.
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