World Bank, AECID shell out more assistance to Philippines

Flood damage in Cagayan de Oro, a province in northern Mindanao, Philippines, following Typhoon Washi. Photo by: Myron Kamensa / World Food Program

More foreign aid, be it in the form of cash assistance or loans, continues to pour in for victims of Tropical Storm Washi in the Philippines.

On Dec. 30, the World Bank called for the immediate release of $500 million from the Disaster Risk Management Development Policy Loan with Catastrophe Deferred Drawdown Option. This will be used for the Philippine government’s recovery and reconstruction efforts, and comes after President Benigno Aquino III’s declaration of a state of national calamity and the government’s request to access the loan.

The loan, a form of assistance from the World Bank Group that gives governments immediate access to funds after a major natural disaster, will help rebuild damaged infrastructure, agriculture and school buildings. The National Disaster Risk Reduction and Management Council estimates resonstruction costs to exceed 1.3 billion Philippine pesos ($29.62 million).

The Spanish Agency for International Development Cooperation, or AECID, meanwhile, has earmarked €200,000 ($259,040) for temporary housing of evacuees. This will help build water infrastructure in affected areas as well.

Apart from that, the agency released €510,000 to Action Against Hunger, Save the Children and the Spanish Red Cross, three nongovernmental organizations working actively in the badly hit cities of Cagayan de Oro and Iligan. It also committed €500,000 to UNICEF for water and sanitation measures

To date, more than 720,000 individuals have been affected by the storm, with the death toll estimated to reach 1,260.

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About the author

  • Ravelo jennylei

    Jenny Lei Ravelo

    Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.