MANILA, MAY 28, 2014 – The World Bank has approved a $700,615 technical assistance grant that will provide data on the current state of the Philippines’ natural resources. Called Wealth Accounting and Valuation of Ecosystems (Phil-WAVES), the project will also promote the integration of principles of sustainable development into country policies and programs. Ensuring sustainable use of natural resources could improve the lives of the poor as they are usually highly dependent on natural resources for their livelihood. In 2013, agriculture, forestry and fisheries accounted for 11.2 percent of the Philippines’ Gross Domestic Product (GDP) and a third of total employment. However, data from the Philippine Statistics Authority (PSA) shows that the poverty incidence in these sectors is high, reaching 36.7 percent in 2009. Sustainable management and judicious use of natural resources are thus critical to ensure that growth is pro-poor and inclusive. http://www.worldbank.org/en/news/pr...o-study-state-of-philippine-natural-resources
