Photo from the Facebook account of Presidential Communications Operations Office Assistant Secretary JV Arcena shows the devastation caused by Typhoon Odette in his hometown Sta. Monica in Siargao Island as it the Philippines last week.
Another $120 million, or over P6 billion, would be taken from CAT-DDO4 in the first week of January. Once withdrawn, the loan cover would be made available in the 2022 national budget. The CAT-DDO4 has an available balance of $497.5 million, or roughly P25 billion, as of December. The DOF vowed to tap the credit line to extend funds to the local governments in need of disaster financing.
“The floods in Malaysia and Typhoon Rai in the Philippines have resulted in the loss of many lives and widespread destruction of property, causing hardship and suffering to many com-munities,” the foreign ministry said in a statement. The Israeli embassy in Manila said it was already “directly coordinating with the Philippine government to extend assistance on its relief efforts.”
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