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 Sports

This week’s top sports shots

Fresh
AP611561881101

A look at some of the biggest plays and best wins that happened this week in sports.

in National

Making headlines this week

AP40816308032

A look at the big newsmaker this week and the headlines you may have missed.

in Sports

Lions, Eagles, Seahawks have triumphant turkey day

lions

Philadelphia and Detroit both served up Thanksgiving Day routs while Seattle boosted their playoff hopes.