Philippines: Post-typhoon rebuilding to cost $3b

RoxasRebuilding affected areas of the Philippines where super typhoon Haiyan hit in early November will costs up to $3 billion, Philippines president Benigno Aquino III said in a statement released by the presidential palace on December 16.

Over 6 000 people were killed in the disaster, with thousands more injured and over a thousand still missing. The Philippines was hit by one of the strongest storms ever recorded on November 8, 2013. One million homes were destroyed and four million were left homeless.

The overall costs of the disaster, including economic losses, has been estimated at $5.8 billion with insured losses at “hundreds of millions of dollars.” Given the low rates of insurance penetration in the Philippines, the maximum payout from insurers is expected to be $700 million.



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Rebuilding affected areas of the Philippines where super typhoon Haiyan hit in early November will costs up to $3 billion, Philippines president Benigno Aquino III said in a statement released by the presidential palace on December 16. Over 6 000 people were killed in the disaster, with thousands more injured and over a thousand still missing. The Philippines was hit by one of the strongest storms ever recorded on November 8, 2013. One million homes were destroyed and four million were left homeless. The overall costs of the disaster, including economic losses, has been estimated at $5.8 billion with insured...

RoxasRebuilding affected areas of the Philippines where super typhoon Haiyan hit in early November will costs up to $3 billion, Philippines president Benigno Aquino III said in a statement released by the presidential palace on December 16.

Over 6 000 people were killed in the disaster, with thousands more injured and over a thousand still missing. The Philippines was hit by one of the strongest storms ever recorded on November 8, 2013. One million homes were destroyed and four million were left homeless.

The overall costs of the disaster, including economic losses, has been estimated at $5.8 billion with insured losses at “hundreds of millions of dollars.” Given the low rates of insurance penetration in the Philippines, the maximum payout from insurers is expected to be $700 million.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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