WB Yolanda reconstruction plan includes $3.2-B aid over 4 years

MANILA, Philippines - A new reconstruction plan for the victims of Typhoon Yolanda includes $3.2 billion in assistance over a four-year period.

The Philippine Rural Development Project, outlined by the World Bank Group, will be submitted to the institution’s board of executive directors in August for approval.

According to World Bank Group president Jim Yong Kim, the project reaffirms the institution’s commitment to the rebuilding of Yolanda-battered provinces.

Jim is in the country to personally look at developments in the ravaged areas and other activities of the global financial institution.

“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,” he said.

The proposed project includes more than $62 million targeted to boost the incomes of farmers and fishermen and repair of 230 kilometers of farm-to-market roads in central Philippines.

It is part of a $508.25-million project designed to raise rural incomes and boost productivity for farmers and fishermen nationwide.

The World Bank earlier had announced nearly $1 billion in financial assistance in the immediate aftermath of the typhoon.

The Philippines is the third-most vulnerable country in the world to extreme weather-related events, earthquakes, sea level rise, and storm surges.

“If we don’t build resilience to climate change and natural disasters, we won’t end poverty,” Jim said.