IATI Identifier:
The PSF was legislated through Republic Act 10174 amending the Climate Change Act of 2009. The PSF was established as a special fund under the National Treasury dedicated to finance local climate change adaptation interventions that aim to respond to the National Framework Strategy on Climate Change (NFSCC) and the National Climate Change Action Plan (NCCAP) with a minimum allocation of approximately USD 25 million annually. The PSF is mainly designed for the local government units (LGUs) and government-accredited local community organizations (LCOs), specifically to address the funding gaps for the local climate adaptation projects that are aligned with the national/ local climate change adaptation-disaster risk reduction plans and/ or national/local climate change action plans. The Climate Change Commission (CCC) as one of the PSF Board member requires assistance to operationalize the Fund, as well as in delivering its mandate and function to mainstream climate change policies in the national and local development plans and projects. Particularly assisting those poorer LGUs who are relatively behind in terms of capacity to satisfy the technical conditions and requirements of PSF and other similar climate financing facilities.
more_horizEnvironmental policy and administrative management
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Global Green Growth Institute | Multilateral | Implementing |
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