Music Room, Malacañang
15 November 2013
Officials of the Asian Development Bank (ADB) personally expressed their deepest condolences to President Benigno S. Aquino III when the group paid a courtesy call in Malacañang.
ADB President Takehiko Nakao came with ADB Vice President Stephen Groff, ADB Southeast Asia Department Director-General James Nugent, Country Director Neeraj Jain and Chief Advisor to the President Tomoyuki Saisu.
ADB will provide $23 million in grants to the Philippines for immediate relief and $500 million emergency loan to reconstruct and rehabilitate communities ravaged by Typhoon Yolanda.
Of the $23 million in grants being provided for immediate relief assistance for affected communities, $3 million will come from the Asia Pacific Disaster Response Fund, ADB’s emergency assistance facility, and $20 million from the Japan Fund for Poverty Reduction, a Trust Fund financed by the Government of Japan.
ADB President Takehiko Nakao said that ADB will provide full support to the people and the Government of the Philippines together with other development partners to quickly implement both needed relief and reconstruction.
Finance Secretary Cesar Purisima, National Economic and Development Authority Director General Rolando Tumpalan and Social Welfare and Development Undersecretary Mateo Montaño were also present during the call.