ADB President Meets with Philippine President to Discuss Typhoon Assistance

MANILA, PHILIPPINES – Asian Development Bank (ADB) President Takehiko Nakao met Philippine President Benigno S. Aquino III today to discuss avenues of using $523 million in ADB assistance to provide immediate relief and help reconstruct the country after Typhoon Yolanda.

Mr. Nakao also reiterated his sympathy and support for the more than 11 million people affected by the typhoon, known internationally as Typhoon Haiyan.

“I met with President Aquino to extend ADB's full support to the government and affected communities, especially as the Philippines is our home. I also reiterated our heartfelt condolences on behalf of the entire ADB family to the Government of Philippines in the aftermath of Typhoon Yolanda,” Mr. Nakao said.

ADB is working closely with the government, international agencies and other development partners to assess needs and plan a response that will help rebuild the lives of affected people. Coordination will be critical to ensuring an effective response.

In addition to financing of $523 million announced earlier this week, ADB is also exploring other ways of mobilizing resources, including the establishment of an ADB-administered multi-donor trust fund.

ADB’s Typhoon Yolanda Response Team, established earlier this week, has begun coordinating with the government and development partners. The team will participate in a comprehensive damage and needs assessment for recovery and rehabilitation.