BREAKING NEWS: Philippines receives P199B aid for Yolanda-hit areas THE Philippines has received P199.48 billion fund from international sources for the rehabilitation of areas devastated by Typhoon Yolanda, Malacanang said. In a statement, Presidential Communications Operations Office Secretary Herminio Coloma Jr. noted that the amount came in the form of loans, financial grants and donations. According to the consolidated data of the Department of Finance (DOF), the Philippines received a total of P199.48 billion in loans/grants/donations, (based on the US$1=Php43 or the prevailing rate during the time it was received), which was used for rescue and relief and reconstruction and rehabilitation phases of the areas affected by super typhoon Yolanda. The amount represents all aid that were coursed through the DoF and accounted for by the Bureau of Treasury, he said. He reported that of the total amount, 85 percent or P169.48 billion was coursed through various government agencies, while the remaining P30 billion was channeled through non-government organizations. According to the DOF, about 53 percent of the P199.48 billion or P106.41 billion has already been disbursed for the various programs, activities and projects within the Yolanda corridor, Coloma said. In terms of sources, about 63 percent or P126.18 billion consisted of foreign loans extended by multilateral lending institutions and development agencies, among them the World Bank, Asian Development Bank, Japan International Cooperation Agency, International Fund for Agricultural Development, and the French Development Agency. The remaining P73.3 billion was made up of donations and grants from other countries, including Australia, China, Germany, Japan, Korea, United Kingdom, United States, and the European Union. Foreign aid pledged and received, both cash and non-cash, during the rescue and relief phase were monitored through the Foreign Aid Transparency Hub (Faith), which is handled by the Department of Budget and Management, he said, adding that the United Nations Office for the Coordination of Humanitarian Affairs also accounts for the foreign grants. On the other hand, local donations are accounted for by the National Disaster Risk Reduction and Management Council, Coloma said. We wish to point out that there is a difference between pledged and received donations. Pledged means that a foreign country or organization expressed its willingness to help but has ‘no legal commitment to follow-through, he said. The DOF said the Office of the Presidential Assistant for Recovery and Rehabilitation has undertaken monitoring and accounting of all donations, including grants where the DoF was not involved, he added. Sun Star Nov. 11, 2014
Posted on: Wed, 12 Nov 2014 06:12:00 +0000
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