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World Bank to allocate more funds for Philippines

Staff writer |
World Bank Group president Jim Yong Kim reaffirmed the support for the Philippines' reconstruction efforts during his visit to communities affected by Typhoon Haiyan (Yolanda) in Leyte.

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Mr. Kim announced that the World Bank Group next month will submit the Philippine Rural Development Project to its Board of Executive Directors. The proposed project includes more than $62 million targeted to boost the incomes of farmers and fishermen and repair 230 kilometers of farm-to-market roads in Central Philippines that was badly hit by the super 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," said Mr. Kim.

"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 in Palo and Tanauan in Leyte."

The $62 million is part of a $508.25 million project designed to raise rural incomes and boost productivity for farmers and fishermen nationwide. The World Bank already had announced nearly $1 billion in financial assistance in the immediate aftermath of the typhoon.

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