TACLOBAN CITY – The National Disaster Risk Reduction Management Council (NDRRMC) has recommended the release of P928.91 million budget for projects of the Department of Trade and Industry (DTI) in areas pummeled by supertyphoon “Yolanda”.
In a letter to President Rodrigo Duterte, Defense Secretary and NDRRMC chair Delfin Lorenzana said the funding is intended for the DTI-Small Business Corporation (SBC) as loan to affected micro small and medium enterprises (MSMEs), livelihood projects, and reconstruction of DTI Region 8 office building.
The SBC credit risk guarantee fund gets the biggest share of budget at P750 million. Livelihood projects and DTI office repair has an allotment of P143.91 million and P35 million, respectively.
“The implementation of said projects will significantly help in the rehabilitation and recovery of typhoon Yolanda-affected areas especially in terms of livelihood and socio-economic aspect as it will enable MSMEs to recover losses,” Lorenzana stated in his communication.
The fresh funding is under the 2016 Yolanda Rehabilitation and Reconstruction Program prepared by then Office of the Presidential Assistant for Rehabilitation and Recovery together with the National Economic Development Authority (NEDA), the agency tasked to monitory post-Yolanda recovery projects.
“This is positive news to accelerate assistance of Duterte administration on Yolanda reconstruction. We hope that the additional recovery projects of other projects would also be funded soon,” said Bonifacio Uy, regional director of the National Economic Development Authority.
The outlay is on top of the P110 million commitment of the national government to fund the medium term water supply project of the Tacloban north resettlement areas as well as the release of more than P500 million for the permanent water projects in the city. (SARWELL Q. MENIANO)