Teves: Reconstruction funds to match assessed needs

Posted at 10/21/2009 4:40 AM

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Finance secretary Margarito Teves told ANC's Business Nightly that the government will prepare a report that would summarize the damages wrought by back-to-back typhoons "Ondoy" and "Pepeng" (Internatinal code names Ketsana and Parma). The report, which would be finalized soon, would also provide details on the reconstruction needs. 

From this report, funding options in the pipeline--a portion of the recently issued $1 billion global bond, loans from multilaterals ADB and World Bank, and the proposed bond float by state-owned investment arm National Development Company--will be matched with the assessed needs. 

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