News

Philippines says typhoon rebuilding could top $5B

Philippines says typhoon rebuilding could top $5B

HAIYAN'S COST: Thousands were killed when the super storms struck the Philippines. Photo: Associated Press

MANILA (Reuters) – The cost of rebuilding houses, schools, roads and bridges in typhoon-devastated central Philippines could reach 250 billion pesos ($5.8 billion), making it likely that the government will seek cheap loans from development agencies, a senior official said on Tuesday.

If the government is successful in deploying resources for post-typhoon reconstruction, the economy may even grow faster, said Arsenio Balisacan, economic planning secretary, adding the country’s strong economic fundamentals remained intact.

PHOTOS: Typhoon Haiyan | HELP: Find out how you can help the victims

“I would not be surprised if it can go as high as 250 billion,” Balisacan told Reuters, commenting on the likely cost of reconstruction.

($1 = 43.4 Philippine pesos)

What's On 'KLH?

Hire Me MKE

HireMeMKE_620x400

Looking for a job around the Milwaukee area? Check out some openings>>

Wanna Play DJ?

HEYMOM

You can host your own show Sunday night at 6 on ‘KLH!

Recent Headlines

in Entertainment

Today in entertainment history: Oct. 24

jamesbrown

A look back on some of the Hollywood headlines that made history.

in National

New York doctor tests positive for Ebola

An exterior view of Bellevue Hospital in New York City, October 23, 2014.

A physician with Doctors Without Borders who returned to New York City from West Africa has tested positive for Ebola.

in Entertainment

‘Jersey Shore’ star heading to trial on tax evasion

sorrentino

Reality TV star Michael "The Situation" Sorrentino pleaded not guilty to federal tax fraud charges.