MANILA  -A $303-million project loan intended to reduce flood and climate risks and protect people and livelihoods around the river basins in Abra, Ranao and Agus, and Tagum and Libuganon has been approved, according to the Asian Development Bank (ADB). The multilateral lender said in a statement the loan was granted for such purposes, considering that the Philippines is one of the countries that are most vulnerable to the effects of climate change and disasters caused by natural hazards. The new loan will support the Integrated Flood Resilience and Adaptation Project – Phase 1, which will upgrade and build flood protection infrastructure in those three major river basins—one in northern Luzon and two in southern Mindanao.

https://business.inquirer.net/420931/adb-approves-303-m-flood-risk-mitigation-loan

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