MANILA, March 11 (Xinhua) -- The Philippines has signed a memorandum of agreement with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH to implement a mangrove insurance initiative in Eastern Visayas, the country's Department of Agriculture (DA) said Wednesday.
Under the initiative, the GIZ will provide technical assistance through a project to strengthen disaster resilience and risk mitigation in coastal communities.
The project will support the Philippine side in designing and testing the insurance product while also building institutional capacity. It will link ecosystem-based adaptation with climate risk insurance to protect vital coastal ecosystems.
The partnership aims to provide innovative, rapid financing for mangrove assessment, cleanup, and restoration immediately after climate-related disasters, particularly typhoons, the DA said.
Mangroves help reduce wave energy, limit coastal erosion, protect communities and infrastructure, and support fisheries and local livelihoods. Eastern Visayas is one of the regions most exposed to climate risks, highlighting the critical role of mangroves as natural coastal defenses. ■
