More Funds From World Bank, United Nations For Philippine Recovery

November 19, 2009 6:13 a.m. EST

Manila, Philippines (AHN) - More funds are on the way to help the Philippine economy recover. The World Bank announced on Wednesday a $405 million loan to Manila to improve the government's social welfare programs to reduce poverty. On the same day, the United Nations appealed for $144 million to help victims of major typhoons that hit the Philippines in September and October.

The $405 million World Bank loan will be used to finance the Department of Social Welfare's new conditional cash transfer program and help put up a national household targeting system to pinpoint poor families. The DSWD's CCT will provide cash grants to poor families to help the children get an education, provide health care and promote proper care for poor pregnant women.

World Bank Country Director Bert Hofman said in a statement, "Reducing the vulnerability of poor households to sudden economic difficulties and improving their access to education and health services are among the most tangible ways to make growth work for the poor,"

According to UN agencies and non-governmental organizations, 4.2 million Filipinos still need humanitarian assistance as a result of Typhoons Parma and Mirinae and Tropical Storm Ketsana that battered the Philippines. The number includes over half a million children under 5 years old.

The UN Office for the Coordination of Humanitarian Affairs launched in October an appeal for $74 million, but so far it has received only $26 million.

The OCHA said in a statement, ""Of particular concern for humanitarian agencies are the estimated 1.7 million people still displaced or living in areas that remain flooded. These areas are likely to remain flooded for another three or four months, putting those affected at serious risk of disease outbreaks."