ADB provides 500 mln USD of emergency loan for Philippines
The Asian Development Bank (ADB) has approved a 500- million USD
emergency loan for the Philippines' immediate reconstruction and
rehabilitation efforts in the aftermath of typhoon Haiyan.
The Asian Development Bank (ADB) has approved a 500- million USD
emergency loan for the Philippines' immediate reconstruction and
rehabilitation efforts in the aftermath of typhoon Haiyan.
In a statement, ADB said the funds will be used by the government to support five priority areas, including shelters and reconstruction, power restoration, livelihoods and employment, resettlement and psycho- social care, and environmental protection.
The Philippine government has increased the budget for rebuilding the areas devastated by typhoon Haiyan to 40.9 billion pesos (935.2 million USD), according to Herminio Coloma Jr., Secretary of the Philippines' Presidential Communications Operations Office.
The total reconstruction will take three to five years, depending on the pace of the support system and the projects implemented, said National Disaster Risk Reduction and Management Council Executive Director Undersecretary Eduardo del Rosario.
The latest government assessment of damage caused by Haiyan showed that some 30.6 billion pesos worth of infrastructure and agriculture products and facilities were destroyed.
The National Disaster Risk Reduction and Management Council said 5,632 people have been confirmed dead, while 1,759 are still missing.-VNA
In a statement, ADB said the funds will be used by the government to support five priority areas, including shelters and reconstruction, power restoration, livelihoods and employment, resettlement and psycho- social care, and environmental protection.
The Philippine government has increased the budget for rebuilding the areas devastated by typhoon Haiyan to 40.9 billion pesos (935.2 million USD), according to Herminio Coloma Jr., Secretary of the Philippines' Presidential Communications Operations Office.
The total reconstruction will take three to five years, depending on the pace of the support system and the projects implemented, said National Disaster Risk Reduction and Management Council Executive Director Undersecretary Eduardo del Rosario.
The latest government assessment of damage caused by Haiyan showed that some 30.6 billion pesos worth of infrastructure and agriculture products and facilities were destroyed.
The National Disaster Risk Reduction and Management Council said 5,632 people have been confirmed dead, while 1,759 are still missing.-VNA
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