Philippines is an archipelago comprising 7,107 islands, of which 1,000 are inhabitable. With a topography characterized by mountainous terrain bordered by narrow coastal plains, it is among the world’s most disaster-prone countries. Commonly occurring hazards include floods, droughts, typhoons, landslides and mudslides, earthquakes, and volcanic eruptions. Recent decades have witnessed an increase in damaging extreme events, such as heavy rainfall and tropical cyclone activity — a trend that is expected to continue under a changing climate.
INVESTING IN THE PHILIPPINES
CIF’s investments in Philippines are through its Clean Technology Fund (CTF) and Pilot Program for Climate Resilience (PPCR). The country's $60-million CTF investment plan is aimed at demonstrating the market viability of low-carbon public transport solutions and encouraging private-sector participation in industrial energy efficiency and renewable energy, such as solar, wind, and biomass. Among its investments, CTF is supporting the deployment of 100,000 energy-efficient electric tricycles in Cebu City and Manila, and providing initial financing to establish rooftop solar-charging stations for the vehicles.
Philippines' development of a strategic program for climate resilience under PPCR is aimed at supporting the mainstreaming of climate change considerations in development planning and budgetary systems and integrating climate resilience objectives in coastal and water sector strategies.
Through the CIF-TAF, approximately $ 300,000 was programmed for technical assistance activities in 2021. The programs covered an array of activites to support green and climate-resilient recovery from Covid-19 by advancing the circular economy on marine plastics.
Through the recently-launched Accelerating Coal Transition (ACT) program, the Philippines has been chosen as one of the first 4 pilot countries selected, and can receive up to $ 500 milliion in financing for program implementation.
Philippines Projects
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