ADB Approves $500M Loan for Philippines Typhoon Relief

Law360, New York (December 6, 2013, 4:39 PM EST) -- The Asian Development Bank board on Friday approved a $500 million emergency loan first announced in the wake of Typhoon Yolanda to help the government of the Philippines recover from damaged cause by the super typhoon that hit the country last month, the ADB said Friday.

The money will help the Philippines cover immediate costs from the storm and help affected areas with the rebuilding process, the ADB said in a statement. Relief efforts are expected to continue into next year. The islands nation has been...
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