Treasury gets P43-million ADB relief fund
Manila (7 September) -- The Arroyo administration has received a grant of $3 million from the Asian Development Bank (ADB).
Haruhiko Kuroda, ADB president, pledged the amount in a letter of condolence and sympathy to President Gloria Macapagal-Arroyo after typhoon Ondoy struck and killed hundreds and laid to waste properties worth billions of pesos in the National Capital Region and surrounding provinces.
In that letter, Kuroda also said he was "deeply saddened by the tragic loss of lives, suffering and damage caused by floods as a result of heavy rains that suddenly and relentlessly hit Manila and nearby provinces over the past weekend."
The ADB said the telegraphic transfer was sent directly to the Department of Finance International Finance Group, which in turn forwarded the cash to the Bureau of Treasury for disbursements to government agencies in charge of relief operations.
"We are closely monitoring the situation and stand ready to assist the government of the Philippines," Kuroda said.
ADB's emergency facility—the Asia Pacific Disaster Response Fund disburses grants to cover the cost of restoring life-saving services following a disaster in the region.
It coordinates its efforts assistance program with the United Nations to and the international community. (PIA) [top]