Lloyd’s Charity Trust will give £150,000 ($242,265) over three years to non-profit builder and designer Build Change, to train Filipinos to make disaster-resilient homes.

The money will help retrofit more than 310 low-income homes in Metropolitan Manila, while the skills acquired by locals will enable the program to expand to improve 500,000 homes, protecting 2.5 million people from the next big earthquake or storm.

More than 430 builders and 25 engineers will be trained, and more than 930 jobs created.

Lloyd’s Asia-Pacific CEO Kent Chaplin says the market is delighted to support the project.

He says it plays a significant role insuring against risks including natural disasters, hence its support for non-profits such as Build Change.

The Lloyd’s City Risk Index estimates 90% of Manila’s GDP – $91.68 billion – is at risk from natural threats such as windstorm, earthquake, volcano, flood, drought or tsunami.

“Informal settlers”, who account for a quarter of Metro Manila’s 20 million residents, are particularly vulnerable.

Build Change CEO Elizabeth Hausler says Lloyd’s Charities Trust’s investment is an innovative way of preparing for the future.

“We are so grateful Lloyd’s has joined this important effort to save lives and prevent economic losses by building resilience in low-income urban areas in the Philippines.”

Since its inception in 2004 Build Change has trained 25,300 people in safe construction, created 12,000 jobs and created safer homes and schools for 245,000 people.