The Asian Development Bank has approved a $500 million loan to support the Philippines' efforts to tackle climate change, it said on Tuesday.

The Asian Development Bank (ADB) has approved a $500-million loan to support the Philippines’ efforts in addressing climate change. In a statement yesterday, the multilateral lender said the policy-based loan for the Philippines’ Climate Change Action Program (CCAP) Subprogram 2 will support the country’s implementation of its nationally determined contribution (NDC) or commitment to reduce emissions to help advance

The Asian Development Bank (ADB) on Tuesday announced it has approved a $500-million policy-based loan to further boost the Philippines capacity to tackle climate change. In a statement, the Manila-based multilateral lender said the $500-million Climate Change Action Program (CCAP) Subprogram 2 “supports the country in implementing its nationally determined contribution (NDC)—its commitment to help advance global efforts to stabilize the