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Residents wade through a flooded street in the town of Navotas in suburban Manila on August 2, 2012, after heavy rains and strong winds were brought about by Typhoon Saola. Philippine President Benigno Aquino has signed a law creating a one billion peso (about $24 million) "survival fund" to combat the effects of climate change, a government official said Tuesday.

(AFP Photo/Jay Directo)

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