2nd Public-Private Sector Dialogue on Post Disaster Assistance

Hotel Intercontinental, Makati City
02 December 2009
President Gloria Macapagal Arroyo expressed her gratitude to representatives of foreign chambers and various international organizations such as multilateral and bilateral financial institutions for their speedy and substantial response to the Philippine governments overall reconstruction effort in the wake of damages caused by typhoons Ondoy, Pepeng and Frank.

In a message delivered at the 2nd Public-Private Sector Dialogue for Post-Disaster Assistance held at Hotel Intercontinental, the President reiterated for more grants or non-repayable inflows since the country is a victim of climate change, not a culprit. Victims are compensated, not penalized with high interest rates or conditionalities, President Arroyo said.

She added that aside from grants, the government would push for concessional loans and that commercial borrowings either through bonds or other instruments should be the last financing option. The President also called on the participants to tap the huge underlying global constituency for climate change adaptation.

On 22 October 2009, President Arroyo issued Executive Order Number 838 creating the Special National Public Reconstruction Commission which is currently being chaired by Finance Secretary Margarito Teves. For its part, the private sector organized the Philippine Post Disaster Recovery Foundation with Manuel Pangilinan as its chairman and Archbishop Ricardo Cardinal Vidal as the co-chairman.

The public-private partnership was tasked to study the causes, costs and actions to be undertaken after the onslaught of typhoons Ondoy, Pepeng and Frank, as well as to seek fresh aid to fund reconstruction.

During the event, Secretary Teves presented the highlights of the dialogue discussed in the morning to President Arroyo and said that more than US$3 billion in loans and grants have been given by the development partners. (NFB)
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