PALO, LEYTE, Philippines – United States Ambassador to the Philippines Philip Goldberg on Monday led the inauguration of projects that support rehabilitation efforts in areas devastated by typhoon Yolanda.
Goldberg then announced the establishment of the Micro Enterprise Disaster Assistance Fund for Resiliency, or the MIDAS Fund, amounting to US$4 million or P176 million.
The ambassador said this project is being implemented by USAID in partnership with the Philippine Business for Social Progress. “This is a credit facility that will enable eligible entrepreneurs from Yolanda-hit communities to borrow money to establish or expand their micro enterprises,” he said.
Goldberg also said that, through the USAID Rebuild Project, the US government is working with the Philippine government to restore access to education and health services, livelihood activities and provide technical assistance to the Office of the Presidential Assistant for Rehabilitation and Recovery.
The ambassador later turned over to beneficiaries from this town and nearby areas 36 sari-sari stores that were reconstructed and restocked with inventory through the support of the United States Agency for International Development, Coca-Cola and Procter & Gamble.
Golberg, in his speech during the ceremony, said at least 1,000 stores in Yolanda-affected areas will be rehabilitated under this partnership.
Palo town Mayor Remedios “Matin” Petilla said the reconstruction of the sari-sari stores in her town, funded by USAID, was a big help for the economic recovery of her constituents who suffered much from the Yolanda devastation in November 8 last year.
Petilla added that project beneficiaries are 100 typhoon survivors who are owners of sari-sari stores here.