Tuesday, October 17, 2017

World Bank commits to help rebuilding Marawi City - Finance Sec. Dominguez III

DOF Secretary Carlos Dominguez III (ctto)

Manila, Philippines -Following the pronouncement of the military that Marawi clash is ending very soon, after terrorist group leaders were killed on Monday; World Bank has confirmed its help to rebuild Marawi City.

According to the Department of Finance, World Bank has committed to work with the Philippine government in helping the war-torn city to rise from wreckage. 

During his visit yesterday, President Rodrigo Duterte has declared that Marawi is now liberated from the terrorist influence, marking the beginning of the rehabilitation of the City. 

In a statement, Finance Secretary Carlos G. Dominguez III said that World Bank Chief Executive Officer Kristalina Georgieva has committed to give technical assistance as well as other forms of needed support to the Philippines to rebuild the ruined city of Marawi.

Dominguez also cited that World Bank has the expertise and capability to rebuild conflict-hit areas. 

The DOF Secretary also added the Georgieva has welcomed his plan to tap on the domestic resources to gather funds for the reconstruction, as the right thing to do.

Dominguez highlighted the importance of “inclusive development” as key of the strategy in rehabilitation.

Georgieva also expressed his sympathy for what has happened to Marawi City, “We can only express all of our sympathy for what has been going on in Marawi,” she said during his meeting with Dominguez.

 “As an institution that has committed to peaceful development and dealing with conflict situations, we would be honored in helping in terms of [re]building and engaging in any possible way what we can do in this situation,” she added.

The said meeting was also attended by Foreign Affairs Secretary Allan Peter Cayetano and Socioeconomic Planning Secretary Ernesto Pernia. Together with them is Mara Warwick, the World Bank country director for Philippines, Thailand, Brunei and Malaysia.

Dominguez thanked the World Bank for its generous assistance through the years, this he said on behalf of the Philippines.

Source: Manila Bulletin