Noy thanks ADB for typhoon aid

MANILA, Philippines - President Aquino has thanked the Asian Development Bank (ADB) for helping the country recover from the massive devastation wrought by Super Typhoon Yolanda.

“In the aftermath of the storm, the ADB reached out to our government and to the Filipino people – in a sense, clearing paths through the rubble, and showing us where to pick ourselves up and continue the journey towards inclusive growth,” he said during the ADB reception in its Mandaluyong office on Wednesday.

He said the ADB provided the government with assistance in the form of loans and grants that could exceed $1 billion and set up an office in Tacloban City to coordinate the use of funds and give guidance to local government units.

“Indeed, with this kind of help from your organization and from the rest of our friends in the international community, affected communities will be back on their own feet in the soonest possible time,” Aquino said.

The President also lauded ADB for always being a major partner that helped set the momentum for the country’s continuous growth, as shown by the 7.2 percent gross domestic product in 2013. 

Aquino noted that from 1996 to late 2012, the ADB’s total loan to the country amounted to $13 billion, which was used to build vital infrastructure projects such as roads, airports and power plants.

He said ADB is Manila’s sixth largest source of Overseas Development Assistance, with overall net commitment reaching more than $833 million.

The government was able to push its conditional cash transfer project and registered 4.3 million this year, with more than 600,000 financed through ADB loans, he added.

Under the program, families who belong to the poorest of the poor receive cash grants on the condition that children are sent to school, pregnant mothers receive regular check-ups, and infants and children are given the necessary vaccinations.

Another ADB-funded project is the Philippine Energy Efficiency Project, with over $30-million loan that has helped government distribute 8.6 million compact fluorescent lamps to more than 3.5 million Filipino households.

“And with organizations like you supporting our efforts, we have been able to work with our people to turn those collective aspirations into reality,” he said.