World Bank Extends Helping Hand to Philippines
The World Bank said yesterday it is still mulling ways to further improve the ability of the Philippines to withstand shocks coming from natural disasters such as typhoons and earthquakes.
Rachel Kyte, vice president and special envoy for climate change at the World Bank, said in a briefing the bank has been in talks with the Philippine government following the devastation of Super Typhoon Yolanda in late 2013.
“Together with the Philippine government, we are trying to build a much more robust, comprehensive, financial resilience system that will offer insurance and risk transfers at the national government level, local government unit level, and individual household level,” Kyte said. Details