Bacolod: This city's Lone District Rep. Alfredo Abelardo Benitez has filed a bill seeking the creation of a disaster risk and financing insurance strategy with an initial funding of P20 billion for the repair and rehabilitation of calamity-hit public infrastructure.

According to Philippines News Agency, in filing House Bill (HB) No. 5202 or the Public Infrastructure Financing and Insurance Bill, Benitez emphasized the importance of prioritizing this initiative due to the significant direct and indirect social and economic costs that arise from delays, given the constant exposure of public works to worsening climate conditions.

The bill mandates the development of a Disaster Risk and Financing Insurance Strategy that would access state, non-state, and global sources and employ both insurance and non-insurance financing mechanisms. Additionally, the National Disaster Response for Infrastructure Fund with an initial P20-billion allocation would be established for the repair, reconstruction, rehabilitation, or disaster mitigation of public structures, such as schools, hospitals, and government offices.

The allocation would also cover similar purposes for roads and bridges, seaports and airports, railways, power generation and transmission structures, and water resource management and supply structures.

Also on Monday, Benitez led a multi-sectoral meeting ahead of the flood control summit that he will soon convene. The meeting was attended by officials of the Department of Public Works and Highways, led by Undersecretary for Special Concerns Charles Calima, and several village chiefs.

Benitez stated, 'We continue our preparations for the Bacolod flood control summit, which will bring together government agencies, experts, and the community to find real, lasting solutions to our city's flooding problems.' He noted that recent floods highlighted the vulnerability of Bacolod and its surrounding areas, further emphasizing the need for accountability, collaboration, and action.