ADB, World Bank ink deal for Yolanda rehab
MANILA, Philippines – The Asian Development Bank (ADB) and World Bank signed an agreement Monday to strengthen the coordination with the Philippine government in rebuilding areas hit by typhoon "Yolanda."
“This agreement will strengthen coordination among ADB, the government, and the World Bank, to ensure the successful processing and implementation of the reconstruction and recovery efforts in areas affected by Yolanda,” ADB’s Philippine country director Richard Bolt said in a statement.
ADB is providing a $372.1 million loan to KALAHI-CIDSS-National Community Driven Development Program (KC-NCDDP) to help restore basic social services and rebuild communities in typhoon-hit areas.
The KC-NCDDP is the government’s flagship project that supports community volunteers in identifying, prioritizing, budgeting, and implementing needed projects, such as water supply systems, schools, health stations, electrification, access roads, irrigation, flood control, and artificial coral reef sanctuaries.
It is part of the $900 million package of emergency grants and loans from ADB for reconstruction and rehabilitation efforts.
Bolt and World Bank’s country director Motoo Konishi signed the memorandum of agreement in Ormoc City, Leyte.
The signing was witnessed by Social Welfare and Development Secretary Corazon Soliman.
In February, the ADB opened its Tacloban office to coordinate, accelerate, and monitor the use of funds, as well as to advise local governments in the rebuilding operations.