The Asian Development Bank (ADB) has announced USD10 billion in climate financing for the Philippines between 2024 and 2029. The funds will help the Philippine government to implement its commitments to climate action under the Paris Agreement.
The funding is a part of the multilateral lender’s new programme being developed for the country to support low-carbon transport, renewable energy (RE), the development of carbon markets, flood management, resilient coastal development, food security, and health and social protection.