Public-private partnership (PPP) projects are vital for bolstering disaster resilience in the Philippines, particularly in developing climate-resilient infrastructure, the National Economic and Development Authority (NEDA).
NEDA Secretary Arsenio Balisacan made this statement as he joined President Ferdinand Marcos Jr. during the opening ceremony of the 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) in Pasay City on Oct. 15, 2024.
“Limited fiscal space, especially in the aftermath of the COVID-19 pandemic, necessitates developing our governance framework for public-private partnerships to finance climate-resilient infrastructure,” Balisacan said.
He said while most PPP projects are in the physical and digital connectivity sectors, “major water supply, flood control and irrigation infrastructure projects are also in the pipeline to meet the economy’s growing needs while ensuring climate-change resiliency.”
NEDA Undersecretary Carlos Bernardo Abad Santos and assistant secretary Roderick Planta were also among the Philippines’ representatives at the conference.
Abad Santos said “pre-disaster planning and preparedness are key to faster and less costly recovery.”
Planta said during the plenary session on investing in disaster-resilient infrastructure that the “Philippine government is committed to increasing the country’s resiliency spending over time.”
He said the country is working on establishing a national standard for infrastructure resilience.
President Marcos highlighted the need to increase investments in disaster risk reduction and develop financing mechanisms to help address disaster risks.
“Sustained and predictable data and financing would help address disaster risks better. This entails ensuring that developing countries, particularly the least-developed countries, landlocked countries, and small island developing states, are provided greater access to these resources to advance their policies and build disaster resilience,” the president said.
He also announced that the Philippines was selected to host the fourth Loss and Damage Fund Board meeting in December 2024.
The board is a decision-making body mandated to lead the management of funds to assist climate-vulnerable developing countries and to respond to economic and non-economic loss and damage associated with the adverse effects of climate change.
