00:00President Ferdinand R. Marcos Jr. is positive that the Fund for Responding to Loss and Damage will greatly help in addressing the effects of climate change.
00:11Joshua Garcia of PTV with the country news.
00:17As a country that is considered vulnerable to climate change,
00:21President Ferdinand R. Marcos Jr. will give the Fund for Responding to Loss and Damage or FRLD
00:28to address the effects of changing times and accidents in our country.
00:33In 2023, the Loss and Damage Fund Board was formed at the United Nations Climate Change Conference
00:39to distribute funds and provide financial assistance to countries affected by climate change.
00:46This year, the Loss and Damage Fund Board is hosted in the Philippines.
00:50In a courtesy call made by FRLD members to President Ferdinand R. Marcos Jr. yesterday,
00:56President R. Marcos Jr. announced the effort of the government to strengthen the FRLD's role here in the country.
01:02He values the use of the Loss and Damage Fund as a way to reduce damaged infrastructure
01:07and to provide assistance to victims of calamity.
01:10As far as we know, six consecutive typhoons have entered the country during the FRLD period.
01:16The Pinsala, which was hit by the climate crisis from 2003 to 2022, will cost up to P191 billion.
01:24It is expected that the use of the Loss and Damage Fund or PONDO will be completed
01:28for the countries most affected by climate change before the end of the year.
01:32At the same time, the government is working hard to take care of the environment
01:37and to stop the spread of climate change.
01:40As of 2024, the PONDO was raised to P457 billion for climate change-related programs, activities, and projects.
01:49From PTV Manila, Joshua Garcia for Balitang Pambansa.
