House approves Loss and Damage Fund bill on 3rd and final reading

Quick Summary:

The House of Representatives on Tuesday approved on third and final reading a bill that seeks to give the Loss and Damage Fund (LDF) Board a legal personality and allow it to operate in the Philippines, a measure included in President Ferdinand Marcos’s State of the Nation Address (SONA) as a legislative priority.

The bill aims to provide the LDF Board with independence and freedom of action akin to those of an international organization.

The bill also confers various immunities and privileges, including exemptions from taxes, duties, and other charges imposed by the Philippine government and local authorities.

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Author / Journalist: Jovee Marie N. de la Cruz

Category: BusinessStartups

Markets: PhilippinesPeru

Topics: Climate Loss Legal House Philippines Fund Approved Personality Bill Damage Board

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-13 @ 13:20:26 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 535 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Business Mirror

News ID: 22065360

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