Philippines set to receive $62m World Bank aid package

15 Jul 14
The World Bank is set to approve a $62m aid package to continue to the Philippines recover from the devastation caused by last year’s Typhoon Haiyan.

During his visit to the Philippines yesterday, World Bank President Jim Yong Kim said the bank would next month submit the Philippine Rural Development Project to its executive board. The project is aimed at boosting the incomes of farmers and fishermen, repairing 230km of farm-to-market roads in Central Philippines that were badly hit by the typhoon.

‘I am here to reaffirm the World Bank Group’s support for the courageous Filipinos who are rebuilding from the ruins of Typhoon Haiyan.

‘While much more can be done and needs to be done, I am encouraged to see the government, civil society, private sector, and local communities rebuilding access roads, irrigation facilities, shelters and schools for those affected by the disaster.’

Kim is on a two-day visit to the Philippines to discuss with the country’s government how the bank can deliver better development results.

A new partnership strategy between the bank and the Philippines was recently approved to the country promote growth, reduce poverty and create jobs. Under this strategy, the World Bank has committed to providing $3.2bn in assistance over four years.

The Philippines is the third-most vulnerable country in the world to extreme weather events, such as earthquakes, sea-level rises and storm surges.

Kim noted that poor people were disproportionately affected by such events, and the least able to cope.

‘If we don’t build resilience to climate change and natural disasters, we won’t end poverty,’ he said.

‘The World Bank Group is working closely with the government and others to communities improve their defence against those threats.’

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