WB gives $479-M loan for poverty reduction

The World Bank (WB) approved a total of $479 million loan for the government’s anti poverty program that particularly targets 8 million victims of Super Typhoon Yolanda in 477 poor rural areas.

The funding would benefit the newly-established National Community Driven Development Project (NCDDP), which was formerly called Kalahi-CIDSS (or the Kapitbisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Services, that would gather victims sentiments and needs for better service delivery, said the statement of the WB board of directors.