Philippines: President signs People's Survival Fund law
Quezon City -- President Benigno S. Aquino III on Friday signed into law R.A. 10174, creating a P1 billion People’s Survival Fund (PSF) to implement local climate change action plans and make communities more resilient to climate-induced disasters.
The PSF is a special fund in the National Treasury in the amount of P1 billion pesos that will be appropriated annually under the General Appropriations Act for the financing of adaptation programs and projects based on the National Strategic Framework on Climate Change.
The fund may also be augmented by donations, endowments, grants and contributions.
Aquino also amended certain provisions of R.A. 9729 or the Climate Change Act of 2009 which created the Climate Change Commission, of which he is chairman and Mary Ann Lucille L. Sering is vice chairwoman.
R.A. 10174, authored by Senate President Juan Ponce Enrile and Sen. Loren Legarda, chairwoman of the Senate committee on climate change, also mandated the Department of Budget and Management to ensure allocation of funds to support climate change-related programs and projects.
In a statement, Legarda said the President's approval of the PSF affirms the country’s commitment to building communities' resilience to disasters.
"This will also support the improvement of the monitoring, controlling and prevention of diseases triggered by climate change, establishment of forecasting and early warning systems, and strengthening institutional development, for local governments, for preventive measures, planning, preparedness and management of impacts relating to climate change," she added.
The funds would be used for the management of water resources, land, agriculture and fisheries, health, infrastructure development, and natural ecosystems.
It would also be used in guaranteeing risk insurance needs for farmers and agricultural workers and for community adaptation support programs of local organizations.(Senate/RJB/SDL/PIA-NCR)