World Bank Offers the Philippines 500m loan.
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As government officials and aid workers struggled to reach communities devastated by Typhoon Haiyan 11 days ago, the World Bank has offered the Philippines a $ 500-million emergency loan to help it construct buildings able to withstand high winds and severe flooding.
“We are committed to supporting the government in its effort to recover and rebuild, and to help Filipinos strengthen their resilience against increasingly frequent extreme weather events,” said World Bank Group President Jim Yong Kim said in a statement on Monday. The bank did not offer details on the terms of the offer or when funds would be distributed.
World Bank Offers the Philippines 500m loan.
Make sure you read the fine print philippines. 500m today sounds like being offered beads for land, more so when coming from the world bank.
I fixed the last sentence from the snippit
“The bank did not offer details on the terms of the offer or when funds would be distributed to rich people not devistated by the disaster.”
It’s good to see that these people are getting more help, but I’m very skeptical about anything involving the world bank. And the devil strikes when your at your weakest, no?
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