ADB grant to revive businesses in Visayas

0

The recently signed $20-million Asian Development Bank (ADB) grant for areas in the Visayan region stricken by Super Typhoon Yolanda is now ready for disbursement to fund the restoration of businesses, jobs and infrastructure.

“We have laid the groundwork to immediately put this assistance to use in cash-for-work programs and restoring crucial infrastructure, such as water systems, solid waste collection, and fuel and power supply,” said Claudia Buentjen, ADB principal country specialist for the Philippines.

The $20-million grant is expected to support “thousands of affected families through cash-for-work programs and help restore income to farmers and fisherfolk by providing seeds, fertilizers, fishing nets, and fishing boats.”

Denomination of $1 million to $8 million will be disbursed separately to communities chosen in partnership with local officials in Central and Eastern Visayas to repair schools, build skills in masonry, and set up a system to monitor vulnerability to future disasters.


The $20-million financial support brings the total loans and grants released by the ADB to the Philippines for Yolanda victims to $900 million.

Share.
.
Loading...

Please follow our commenting guidelines.

Comments are closed.