In this handout photo from Mountain Province Disaster Risk Reduction Management Office (DRRMO) on July 26, 2023, vehicles are seen submerged as water rises along Chico River in Bontoc, Mountain Province as Super Typhoon Doksuri passes close to the northern tip of Luzon Island. FILE PHOTO/Agence France-Presse

MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Tuesday emphasized the pressing need to “significantly increase” investments in disaster risk reduction to benefit countries most vulnerable to calamities.

Marcos also highlighted the importance of a “sustained and predictable data and financing” to improve how countries address disaster risks.

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“We must significantly increase our investments and develop financing mechanisms in disaster risk reduction,” said Marcos in his speech at the 2024 Asia Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) at the Philippine International Convention Center (PICC).

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READ: Marcos: PH to lead global push for legal safeguards in disasters

“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,” he added.

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Marcos said this commitment and advocacy align with the Philippines’ role as a “climate champion” and its position as host of the Loss and Damage Fund Board.

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READ: Philippines elected to host Loss and Damage Fund Board

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“This reinforces our commitment to improving the Board’s operations and to contribute to the success of its institutional architecture,” said Marcos.

“We are hopeful for a Fund that will benefit climate vulnerable countries, many of whom are in our region,” he added.

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During the conference, Marcos stressed how nations across the Asia-Pacific region “grapple” with similar challenges when it comes to disasters, all while ensuring economic growth.

The APMCDRR is currently being held at the Philippine International Convention Center or PICC, in Pasay City and will run until Oct. 18

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More than 4hellowin,000 delegates from 69 countries are participating in the event.

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