Multi-Donor Trust Fund for Yolanda victims

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The World Bank and the Asian Development Bank is setting up a trust fund that will gather and mobilize all donations from all over the world for the purpose of recovering the damages left by Yolanda.

The funds that will be gathered will be outlined for Reconstruction Assistance on Yolanda (RAY) that covers reconstruction of government facilities, and giving of livelihood programs to all victims of the typhoon.

“The MDTF will facilitate transparent and efficient utilization of resources as well as harmonization of various approaches being adopted by ensuring that all standards are complied with,” Rosalia de Leon said, from National Treasurer.

All donated funds will not be coursed through the government, but, instead will be channeled through different nongovernment organizations or be given directly to those affected communities.

(Inquirer.net)

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