World Bank raises Philippine typhoon aid package to almost $1 billion

The World Bank said it offered $480 million on top of a $500 million emergency loan it committed earlier to the Philippines, with the additional funds to be used for the early rebuilding of communities and crucial infrastructure such as water, rural roads, schools and clinics. On Saturday, the national disaster agency said the death toll from Haiyan had risen to 5,235 from 5,209, with more than 1,600 still missing and over 4 million displaced people. Apart from the World Bank, the Asian Development Bank also pledged a $523 million loan and grant package to the Philippines, as foreign governments and international aid agencies committed about $344 million in cash and relief goods. The government initially estimated the reconstruction cost to reach as much as $5.8 billion, with more than 1 million houses totally or partly destroyed and about 23 billion pesos worth of damage to agriculture and infrastructure.
Source: REUTERS
Link: http://feeds.reuters.com/~r/reuters/environment/~3/gO0OuNsAr54/story01.htm


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