Philippines Among Four Nations to Receive First Grants from International Climate Loss and Damage Fund
The Philippines is one of four countries whose projects have been approved to receive the initial grants from an international fund established to assist developing nations in recovering from climate-related losses and damage. The Fund for Responding to Loss and Damage is slated to award a total of $92 million in December, with projects in Jamaica, Ivory Coast, Nigeria, and Haiti also receiving grants ranging from $5 million to $20 million each. This decision follows a board meeting in July in the Philippines, where 176 requests totaling $2.8 billion were submitted. While wealthy countries have pledged $822 million to the fund since its inception at COP27 in 2022, no money has been disbursed until now. The fund's co-chair, Camila Minerva Rodriguez Tavarez, clarified that it is not an emergency response fund but aims to support longer-term recovery efforts, acknowledging that current resources are significantly less than the billions needed by vulnerable countries.
