The country’s hosting of the Loss and Damage Fund Board will unlock more opportunities for the Philippines in terms of access to climate finance, according to Finance Secretary Ralph Recto.
The Philippines was selected over Antigua and Barbuda, Armenia, The Bahamas, Barbados, Eswatini, Togo and Kenya to host the LDF Board. With addressing climate change as one of his top priorities, President Marcos Jr. was very keen on securing the spot to host the LDF Board and immediately established a technical working group on March 1, 2024 to strategically prepare the country’s bid submission.
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