Climate change is one of the recent issues among all countries in the world,. And, Philippines is of no exception when it comes to experiencing the effect of climate change. So now the country is seeking for financial aid to address this issue.
The Department of Budget and Management has already released P1.15 billion of its budget to the Department of Public Works and Highways for the improvement of infrastructures to areas affected by the Super Typhoon Yolanda.
However, Philippines is still continuing to tap other agencies internationally for more support. And this has caught the eye of the French President Francois Hollande who offered a 50-million euros loan.
However, according to Climate Change Commission Secretary Mary Ann Lucille Sering, they still have to closely study about the offer. Sering expressed that support that will given by agencies should not be in a form of a debt, that it should be a grant.
On the other hand, Sering stated that there are still other agencies that the Philippines can ask for grants. Such as the Green Climate Fund where the Philippines is the co-chair, and the Adaptation Fund (under United Nations Framework Convention on Climate Change) where the Philippines is eligible for about $5 million to $10 million grant.
The bottom line is that if there are still other options to choose from to get grants, climate change in-charge in the Philippines will be prioritizing tapping on it before considering into getting into loan option.