ADB Pledges $523 Million In Typhoon Yolanda Relief

Law360, New York (November 14, 2013, 2:05 PM EST) -- The Asian Development Bank said Wednesday it is ready and willing to provide the communities affected by the devastation of Typhoon Yolanda with a total of $523 million for relief assistance and post-disaster rehabilitation and reconstruction.

Of this amount, $23 million in grants will go toward immediate relief assistance, with the remaining $500 million as part of an on-call emergency loan to help reconstruct communities that have been ravaged by the disaster, ADB said in a statement. $20 million of the initial $23 million will come...
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