Philippines received pledges for environment-related projects
Posted on December 19th, 2009
And so President Gloria Macapagal-Arroyo’s trip to Copenhagen, Denmark seems to be fruitful. If the said pledges amounting to $380 million (P17.67 billion) in foreign funding for environment-related projects and programs in the Philippines would materialize.
Arriving yesterday at 5:30 a.m. from her climate change meet in Copenhagen, Denmark, Arroyo said even if the United Nations Summit in Climate Change failed to reach a binding agreement on cutting emissions, it has succeeded in bringing world leaders together to “solve the problem that affects the whole world.”
The statement that Press Secretary Cerge Remonde says, “No longer can the world’s top polluters sweep this problem under the rug. The issue is now firmly on the table for everyone to see. There is no going back. All nations, rich and poor, have all noticed that they must come to grips with this raging problem.”
Continuing reading the statement, Remonde said, “While the results were not enough, it is a step toward the right direction that will eventually lead us down the path to a cleaner, greener world for future generations. The Philippines will continue to do its part through advocacy and support for a global treaty on the reduction of gas emissions. This is the only way forward if we are to make a real difference.”
Pledges for environment-related projects came from the World Bank (WB) and the Asian Development Bank (ADB), who pledged $250 million from the Clean Technology Fund (CTF). The Global Environment Fund also pledged $50 million and another $10 million from the investment funds of Denmark to support the development of the Philippine’s water utility system.
Aside from the CTF, the WB also pledged $70 million for forestry-related projects.
“These funds will go a long way to helping us adjust the impact of global warming on our beautiful island nation. This was a small step but an important one for the developing world as we are the smallest contributors to climate change but the ones who suffer the most,” Remonde said.
