Philippines receives over $4bn international aid for Haiyan-struck areas

GMT 18:37 2014 Tuesday ,11 November

Arab Today, arab today Philippines receives over $4bn international aid for Haiyan-struck areas

US Marines in Okinawa
Manila - XINHUA

The Philippines has received 199.48 billion pesos (about 4.44 billion U.S. dollars) from international sources for the rehabilitation of areas struck by typhoon Haiyan ( local name Yolanda) a year ago, a senior government official said Tuesday.
Presidential Communications Operations Office Secretary Herminio Coloma Jr. said the amount came in the form of loans, financial grants and donations.
Citing the consolidated date of the Department of Finance, he said the fund that the country received was used for "rescue and relief and reconstruction and rehabilitation phases" of the areas affected by Haiyan.
"The amount represents all aid that were coursed through the DOF and accounted for by the Bureau of Treasury," Coloma said.
He said that of the total amount, 85 percent or 169.48 billion pesos (about 3.78 billion U.S. dollars ) was coursed through various government agencies, while the remaining 30 billion pesos (about 668.15 million U.S. dollars) was channeled through non- government organizations.
According to the Finance Department, about 53 percent of the 199.48 billion pesos or 106.41 billion pesos (about 2.37 billion U. S. dollars) has already been disbursed for the various programs, activities and projects within the Haiyan corridor, he said.
In terms of sources, about 63 percent or 126.18 billion pesos ( about 2.81 billion U.S. dollars) consisted of foreign loans extended by multilateral lending institutions and development agencies, among them the World Bank, Asian Development Bank, Japan International Cooperation Agency, International Fund for Agricultural Development, and the French Development Agency.
The remaining 73.3 billion pesos (about 1.63 billion U.S. dollars) was made up of donations and grants from other countries, including Australia, China, Germany, Japan, South Korea, the United Kingdom, the United States, and the European Union, Coloma said.

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