MANILA, Philippines – Government has released an estimated P30 billion for the rehabilitation efforts in areas hit by typhoon “Yolanda,” Budget Sec. Butch Abad said.
After spending P23 billion in December 2013, Abad said there will be a greater push for spending for the rehabilitation of typhoon-hit areas in Central Luzon this year.
The Aquino administration has earmarked P20 billion for the rehabilitation and realigned about P15 billion to P20 billion of the national budget.
Government also raised P80 billion in concessional loans from the Asian Development Bank, Japan International Cooperation Agency and the World Bank.
Bulk of the rehabilitation budget will be spent within the first semester of the year.
"We were already moving funds for rehabilitation, and in fact for January, we practically released all the requirements that was collected in 2013, so now we are moving to release all the P20 billion rehabilitation and reconstruction fund that is in the budget," Abad said.
"The acceleration would even be better this year because we had pre-procured many of the programs for 2013," he added.
The Department of Budget and Management (DBM) earlier said around P360.9 billion will be needed for the reconstruction and rehabilitation efforts in Yolanda-hit areas.