Ladies and gentlemen, good afternoon.

Welcome to the Ceremonial Signing of the Project Development Grant Financing Agreements of the People’s Survival Fund for the five Northern Samar Local Government Units, namely Bobon, Mondragon, Pambujan, Rosario, and San Jose.

I’d like to thank Mayor Reny Celespara of the Municipality of Bobon, Mayor David Bido of the Municipality of Rosario, and Mayor Damian Luzon, Jr. of the Municipality of San Jose, Northern Samar for gracing us with their presence on this momentous occasion.

We also wish to recognize the presence of the Climate Change Commission and the PSF Board Member agencies, who, together with the Department of Finance, made the approval and execution of the first-ever Project Development Grants under the PSF possible.

The People’s Survival Fund’s Project Development Grant aims to assist LGUs in developing and enhancing PSF funding proposals to address the barriers faced by proponents during project initiation.

The funding of up to 2 million pesos for each approved proposal supports activities that are essential in the identification and development of climate change adaptation projects.

The Philippines has long been one of the world’s most vulnerable countries to the devastating effects of climate change. Now, we top the 2022 World Risk Index with the highest exposure to disaster risks among 192 countries.

The increasing frequency and intensity of climate-related disasters calls for greater support and more proactive interventions on the part of the government.

In response, the Philippine Government is committed to efficiently mobilizing climate finance and undertaking climate change adaptation measures across all sectors.

Climate action requires a whole-of-nation approach. Local government units play a critical role in the success of this effort. It is therefore necessary that we strengthen LGUs’ capacities to produce and carry out local climate change adaptation projects that would effectively boost their resilience.

Many local governments already have promising adaptation plans for their communities. The PDG is an ideal tool to transform their vision into comprehensive and feasible proposals that have tangible and lasting effects on our local communities.

Rest assured, the Department of Finance is working closely with the relevant government agencies, through the PSF Board, in reviewing the latest submissions of PSF project proposals. We hope to roll out new PSF projects soon and enable easier access to the Fund for our local government units.

I trust that the partnership among the DOF, the PSF Board member agencies, and our LGUs will yield the best possible outcomes for our people as we build a safe, healthy, and climate-resilient society.

Thank you.