Philippines: Emergency Assistance for Relief And Recovery from Typhoon Yolanda
On 8 November 2013, typhoon Yolanda—one of the strongest storms ever recorded— battered the Central, Eastern and Western Visayas in the Philippines with heavy rains and strong winds reaching 315 kilometers per hour. The Asian Development Bank (ADB) estimated that the potential impact of the typhoon in the Visayas would be 4%–8% decrease in their combined gross regional domestic product (GRDP) growth in 2014. Poverty incidence in the Visayas Region was expected to surge after the typhoon. The magnitude of the damage caused by the disaster affected the country’s fiscal policy in two ways. First, the government started to reallocate spending in November 2013 to finance the emergency relief efforts, with additional public spending of P153 billion in 2013 and 2014. Second, the expected decline in GRDP was expected to result in foregone tax revenue.
The expected impact of the emergency assistance loan was revitalized regional economies in the Visayas Region. The expected outcome was to have mitigated the adverse social impact of the typhoon on the poor in the affected areas. The two expected outputs of the project were (i) a finalized Government’s Yolanda Recovery and Rehabilitation Plan—which aimed to provide immediate humanitarian needs to victims from December 2013 to March 2014, and (ii) funding met for the National Government Expenditure Program for 2014—which aimed to provide immediate and flexible financing to support the government’s response to urgent needs.
This report validates the completion report’s assessment of the project. IED overall assessment: Highly successful.