ADB approves climate loan to the Philippines

The Asian Development Bank (ADB) on September 13 announced that it has approved a 303 million USD loan to reduce flood and climate risks and protect people and livelihoods in three major river basins in the Philippines.

The Philippines is one of the countries most vulnerable to the effects of climate change and disasters caused by natural hazards.

ADB approves climate loan to the Philippines -0
Photo: ADB
​​​​​​


The Integrated Flood Resilience and Adaptation Project – Phase 1 will upgrade and construct flood protection infrastructure in the Abra river basin in the country’s northern Luzon region and the Ranao/Agus and Tagum–Libuganon river basins in the southern Mindanao region. 

The infrastructure takes into account future climate change impacts and incorporates nature-based solutions such as restoring and reconnecting old river channels for natural drainage and reinforcing riverbanks with mangroves and vegetation planting, ADB said. 

ADB Senior Water Resources Specialist Junko Sagara said climate change is expected to raise risks from extreme weather events. These river basin communities are highly vulnerable to climate-related hazards.

The project will help lessen these risks and improve income and livelihood opportunities, especially for the poor and vulnerable, he added./.

World

Thailand aims to become ASEAN's clean energy hub
World

Thailand aims to become ASEAN's clean energy hub

BoI Secretary-General Narit Therdsteerasukdi revealed that there are currently 28 electric vehicle production projects by 22 companies in Thailand, with a total investment of approximately 78 billion THB and a combined production capacity of over 880,000 units.

Indonesia seeks new markets for palm oil
World

Indonesia seeks new markets for palm oil

Indonesia is the world's biggest producer of the edible oil used in making foods such as cakes, chocolate, and margarine as well as cosmetics, soap and shampoo, accounting for more than half of the global supply.

Thailand optimistic about tourism and spending during Songkran festival
World

Thailand optimistic about tourism and spending during Songkran festival

Deputy government spokesman Anukul Prueksanusak has cited findings from a recent consumer behaviour survey conducted by the University of the Thai Chamber of Commerce, which said spending during Songkran is projected to increase by 4.5% to 134 billion THB (3.8 billion USD), up from last year’s 129 billion THB

Thailand to negotiate with US on tariffs
World

Thailand to negotiate with US on tariffs

Thailand is on the list of 15 countries that could be affected by Trump’s tariff policy. The average US tariff on Thai imports is 2% while Thailand levies an average tariff of 8% on US products

Thailand revises tourism strategy after earthquake
World

Thailand revises tourism strategy after earthquake

Minister of Tourism and Sports Sorawong Thienthong said that a tourism risk and crisis management team will be established to support the industry, with representatives from organisations in the tourism supply chain, such as the Ministry of Home Affairs and the Roads Authority.