MANILA, Dec. 4 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will program 10 billion U.S. dollars in climate finance for the Philippines between 2024 and 2029.

The decision was announced by ADB President Masatsugu Asakawa at a high-level dialogue on financing coalitions at the United Nations' annual climate conference held in Dubai in the United Arab Emirates.

"The battle against climate change will be won or lost in Asia and the Pacific and nowhere is this more evident than in the Philippines," said Asakawa.

He added that the ADB will also continue efforts to mobilize additional climate finance from the private sector, co-financing partners, and other sources.

The World Risk Index 2022 put the Philippines at the top spot for the most disaster-prone country in the world. The archipelago country is frequently battered by powerful typhoons which trigger flash floods and landslides, and rocked by earthquakes and volcanic eruptions.

The ADB said its climate finance in the Philippines will help improve the climate resilience of communities, ecosystems, and the economy. Enditem

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