ADB disburses $20-M grant for Yolanda-hit areas
Ted P. Torres (The Philippine Star) - March 14, 2014 - 12:00am

MANILA, Philippines - The Asian Development Bank (ADB) is releasing a $20-million grant to jumpstart job opportunities and rebuild damaged infrastructure in  municipalities ravaged by Super Typhoon Yolanda.

The funding will be disbursed in tranches of $1 million to $8 million to communities chosen in collaboration with local officials.

The grant, funded by the Japan Fund for Poverty Reduction, will support thousands of affected families through cash-for-work programs and help restore income to farmers and fisherfolk by providing seeds, fertilizers, fishing nets and fishing boats.

 â€œIn addition, assistance will be used to repair schools, build skills in masonry, and set up a system to monitor vulnerability to future disasters,” Claudia Buentjen, ADB Philippines principal country specialist, said.

The multilateral lending agency already provided a $3-million grant from its Asia-Pacific Disaster Response Fund, and approved a $500-million emergency loan to aid in the National Government’s immediate post-disaster costs. Last month, ADB opened an extended mission for Yolanda, based in Tacloban.

Last month, the Manila-based institution opened an office in Tacloban to coordinate and monitor the use of funds, as well as advise local governments on the road to recovery by providing technical back-up in project activities.

The assistance will help rebuild critical social infrastructure such as schools and clinics, as well as restore different sources of income in rural communities. It will also build the capacity of local governments to implement risk-sensitive land use planning and disaster preparedness in anticipation of future calamities.

ADB supported the government in assessing damages, losses and needs across various sectors, which was centered around Reconstruction Assistance on Yolanda (RAY), the government’s strategic plan for recovery and reconstruction, which coordinates assistance from all its partners.

To date, ADB approved nearly $900 million assistance for immediate recovery efforts and long-term reconstruction and rehabilitation. This includes a $3-million grant for emergency assistance; a $20-million grant from the Japan Fund for Poverty Reduction; a $372-million loan to expand an existing community-driven development program into typhoon-affected areas; and a $500-million loan for budget support to the government to cover costs associated with the relief and recovery efforts.

 

ASIA-PACIFIC DISASTER RESPONSE FUND ASIAN DEVELOPMENT BANK CLAUDIA BUENTJEN JAPAN FUND MILLION NATIONAL GOVERNMENT POVERTY REDUCTION RECONSTRUCTION ASSISTANCE SUPER TYPHOON YOLANDA TACLOBAN YOLANDA
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with