The Land Bank of the Philippines (Landbank) assures local development stakeholdersof continued access to climate finance under the Green Climate Fund (GCF), in support of projects for climate change adaptation and mitigation.
The state-run Bank expressed its continuous commitment incontributing to address the climate crisis at the Disaster and Climate Emergency Policy Forum on 22 September 2022, organized by the Local ClimateChange Adaptation for Development (LCCAD),University of the Philippines Resilience Institute (UPRI), 4K Foundation, Komunidad Global, Albay Embassy and Climate Change Commission (CCC), in partnership with the House of Representatives and the Office of Albay Rep. Joey S.Salceda.
“Landbank stands ready to extend necessary credit assistance to boost national and local resiliency and adaptive capacity to climate change. We are collaborating with various development partners, such as the GCF, towards building a more sustainable future,” said Landbank President and CEO Cecilia C. Borromeo.
The GCF is an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) and Paris Agreement, dedicated to supportglobal efforts to respond to the challenge of climate change.
The program aims to help developing countries limit or reduce greenhouse gas (GHG) emissions and adapt to climate change, by supporting programs and projects that promote a paradigm shift to low-emission and climate-resilient development.
As a Direct Access Entity (DAE) of the GCF, Landbank channels grants and loans provided by the GCF to financelocal projects that aim to mitigate and adapt to climate change. The Bank leads the project development, management, monitoring and evaluation, in partnership with public and private entities.
