People's Survival Fund

Ceremonial Presentation of the Funds to the People’s Survival Fund Local Government Unit Beneficiaries

Benjamin E. Diokno
Secretary of Finance

November 29, 2023
Malacañan Palace

His Excellency, President Ferdinand R. Marcos, Jr.; fellow Cabinet members; distinguished guests; ladies and gentlemen: magandang umaga po sa inyong lahat.

I am pleased to report to the President a milestone achievement in the 11-year history of the People’s Survival Fund.

The People’s Survival Fund is a transformative financing mechanism that has become the gold standard for climate solutions in the Philippines.

The Fund addresses climate vulnerabilities that put communities at risk, while shining a spotlight on the ingenuity of local communities in crafting nature-based climate solutions.

Last October, for the first time since its creation, the PSF Board approved five local adaptation projects amounting to over 539 million pesos, raising the Fund’s utilization rate to 89 percent.

This monumental feat was made possible by streamlining the review and approval process for project proposals.

This involved maximizing technical assistance from the government and the Climate Change Commission National Panel of Technical Experts, as well as conducting capacity-building activities for LGUs led by the CCC and the Department of Environment and Natural Resources.

We will fast-track the review and evaluation process further, enhance the knowledge and capacities of proponents in developing projects, and conduct third-party auditing and evaluation to ensure transparency and accountability.

Looking ahead, the Board shall adopt a rolling system of approval, subject to replenishment through the General Appropriations Act, or grants, endowments, and contributions from organizations and partners.

These decisive measures send a strong signal to the rest of the world that the Philippines is serious in its commitment to “Unite, Act, and Deliver” on our climate agenda.

I thank the Climate Change Commission for being a reliable partner in our efforts to make climate resilience in the Philippines a reality.

Most importantly, none of this would be possible without the President’s steadfast support and clear vision of a “Bagong Pilipinas” – one that is supported by an inclusive and sustainable recovery.

The success of the PSF rests on the strength of our cooperation: from the national and local government levels, all the way to civil society organizations, the academe, and our local communities.

Today’s ceremony is only the beginning. I look forward to the transformation these projects will bring and to countless more innovative project proposals from local government units in the Philippines.

Maraming salamat po at mabuhay kayong lahat!