The board of the Manila-based Asian Development Bank (ADB) on Friday gave the green light to a total of $408 million in loans and grants for the rehabilitation and reconstruction of war-torn Marawi City. The financing package, called Emergency Assistance for Reconstruction and Recovery of Marawi, included two loans worth $400 million on top of $8 million in grants, ADB country director for the Philippines Kelly Bird told a press conference. ADVERTISEMENTBird said a $300-million quick disbursing loan would fund selected programs, projects and activities under the Bangon Marawi Comprehensive Rehabilitation and Recovery Program (BMCRRP), which covers areas outside ground zero. Roads, bridgesAnother $100-million concessional loan will finance the Department of Public Works and Highways’ construction of 25 kilometers of roads as well as 1,700 meters of bridges and viaducts. Also to be covered by the $5-million grant was the construction of two health clinics that will “meet or exceed national standards.”The clinics would have birthing facilities, medical equipment and private spaces.

Source: Philippine Daily Inquirer December 14, 2018 23:26 UTC