"When floods occur, the capacity of people to earn a living is constrained, and many can fall back into poverty. Investments that improve flood management helps protect vulnerable communities as well as boost resilience against the impact of climate change," World Bank country director for Brunei, Malaysia, Philippines, and Thailand was quoted as saying in the statement.
Loan agreements with the WB and AIIB were signed in December last year and the project is expected to be completed in 2024, the DOF said.
Source: ABS CBN News | 9 January 2018