PHL to secure $500M ADB loan for climate resilience

Quick Summary:

The national government has secured backing from the Asian Development Bank (ADB) and is set to receive a $500-million loan to improve the climate resilience of local communities, ecosystems and the national economy.

The LDF is a global financial mechanism designed to support countries’ response and recovery from losses and damages caused by climate change.

That agreement made the Philippines the pioneer in ADB’s first-ever policy-based loan for climate action.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Change Development Board Philippines Statement Action Climate Finance Host Asakawa Loan

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 16:07:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 539 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22299417

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Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

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Year Established: 2005

Headquarters: Philippines

News Last Updated: 9 hours ago

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