News Column

Philippines : Philippines with Yolanda reconstruction and other DEVELOPMENT PROJECTS

May 30, 2014



The ASIAN Development Bank (ADB) has repeated its commitment to aid the Philippines with post-typhoon Yolanda reconstruction and other development projects.

Economic Planning Secretary Arsenio M. Balisacan, and Social Welfare Secretary Corazon J. Soliman, ADB President Takehiko Nakao gave updates on the multilateral lender s assistance to Yolanda-affected areas in meetings with Finance Secretary Cesar V. Purisima, Economic Planning Secretary Arsenio M. Balisacan, and Social Welfare Secretary Corazon J. Soliman.

The aid is said to have been totaled to almost $900 million.

An office has been inaugurated by the ADB in February to speed up fund disbursements, monitor funds use and support local governments ins their recovery.

Mr. Nakao was also to have recommented the Philippine government for the upgrade of the country s credit rating.

It was also decided in the meetings that the ADB would back up programs under the Comprehensive Agreement on the Bangsamoro in order to support the growth of Mindanao.


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Source: TendersInfo (India)


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