ADB reiterates support for Philippines recovery plans

28 May 14
The Asian Development Bank has pledged to continue to support recovery in the Philippines following the devastation in the country caused by typhoon Haiyan.

By | 28 May 2014

The Asian Development Bank has pledged to continue to support recovery in the Philippines following the devastation in the country caused by typhoon Haiyan.

After meeting with Philippine finance secretary Cesar Purisima ADB president Takehiko Nakao also emphasised the importance of accelerating growth by creating jobs and boosting the country’s infrastructure as well as improving disaster risk management following the storm.

Nakao said that nearly $900m of assistance had been provided by the ADB following the typhoon last November. This was now being managed by a new

office in Tacloban, one of the cities most affected by the storm, where support was now being coordinated and monitored, he said.

‘Increased strategic use of ADB through project and program loans as well as technical assistance will the Philippines to deepen reforms, build institutions and capacities, and expand investment in infrastructure, agriculture, education, and social protection and services,’ he added.

The Philippines is the ADB’s host country and a founding member. Since 1966, the Philippines has received $14.41bn in sovereign and non-sovereign loans, $266.15m in technical assistance, and $75.61m in grants.

Did you enjoy this article?

Related articles

Have your say

Newsletter

CIPFA latest

Popular

Most commented

Events & webinars