U.S President Barrack Obama announced on Friday that he will be allotting a $1 billion fund to help communities combat the effects of climate change.

The fund, which will be included in the 2015 budget, is made to help speed up assistance for areas which are negatively affected by climate change. It is also included in Obama's Climate Action Plan which he discussed in 2013.

The proposal for the budget will be officially revealed when the President announces his budget plans for the 2015 fiscal year in March.

According to the White House, the funds will be used to help people across the United States to cope up with extreme climate change effects such as floods, heat waves, wildfires, and drought. It will also be utilized to fund studies related to the the effects of climate change particularly extreme temperatures and increasing sea levels. Other parts of the fund are allocated to create new technologies and strong infrastructure which includes more durable electricity systems and sea walls.

Although some parts of the $1 billion fund can be executed through executive power, some of it still needs the approval of the Congress.

"Given the saliency of the issues in communities across the political spectrum, it seems likely to create some momentum for action in Congress, although obviously that is very hard to say in the current environment,", associate professor at Duke University from the Sanford School of Public Policy,Billy Pizer said to Reuters.

The fund was conceptualized based on the recommendation made by Center for American Progress (CAP) in December 2012. The proposal of CAP, which is called community resilience fund, will require the President to create a bilateral committee which will be tasked to think of ways on how to pay for the fund.

"Every dollar spent on resilience will save federal taxpayers $4 in lower disaster recovery costs," CAP's director of climate strategy Daniel Weiss said to Reuters."Now it's up to Congress to make this essential preparedness fund into a reality."