USAID-PBSP sets up P176M credit facility for Yolanda victims
Palo, Leyte — United States Ambassador to the Philippines, Philip Goldberg led Monday inauguration of projects supporting rehabilitation efforts in areas here devastated by super typhoon Yolanda.
He also announced the establishment of a P176 million ($4 million) Micro Enterprise Disaster Assistance Fund for Resiliency (MIDAS Fund) which Goldberg said will be implemented by the United States Agency for International Develop ment (USAID) in partnership with the Philippine Business for Social Progress (PBSP).
The MIDAS Fund is a credit facility that will enable eligible entrepreneurs from Yolanda hit communities to borrow money to establish or expand their micro enterprises, he explained.
At the same time, the US Ambassador turned over 36 sarisari stores to beneficiaries in this town
and nearby areas which were reconstructed and restocked with inventory through the support of US AID, CocaCola and Procter & Gamble.
In his speech, Ambassador Gol berg said that at least 1,000 stores in Typhoon Yolanda affected areas will be rehabilitated under this partnership.
Palo Mayor Remedios Petilla in her speech during the event said the reconstruction of the sarisari stores in her town financed by USAID is a big help for the econom ic recovery of her town which was badly damaged by supertyphoon Yolanda in Nov. 8, 2013.
She said there are 100 typhoon survivors who are also sarisari store owners in her town who are beneficiaries of the project.
Meanwhile, Goldberg said that through the USAID Rebuild Project, the US government is working with the Government of the Philippines to restore access to education and health services and livelihood activities while providing technical assistance to the Office of the Presidential Assistant for Rehabilitation and Recovery.
After the ceremony, Ambassador Goldberg proceeded to the Leyte Landing Memorial and joined the commemoration of the 70th Leyte Gulf Landing anniversary, with President Aquino as guest of honor and speaker.
Meanwhile, aging World War II veterans here are seeking addition al pension to alleviate their needs.
Veteran Xerxes A. Abadiano, 94, said their P5,000 pension per month is not enough for their needs especially for medicines and for health services.
Abadiano, from Marasbaras Tacloban City, who is now bound to a wheelchair, was accompanied by his wife and daughter to the 70th Leyte Landings anniversary rites.
Aside from the President, the festive celebration of the Leyte landings anniversary at the MacArthur Landing Memorial National Park, in Candahug, this town last Monday was also attended by dignitaries and representatives from the embassies of the United States, Australia, United Kingdom and Northern Ireland, New Zealand, Japan and Canada.
Source: Restituto A. Cayubit, Manila Bulletin, p.15, October 22, 2014