President Gloria Macapagal-Arroyo vows that her administration will work aggressively to ensure growth, generate jobs, and increase revenue. We will pursue poverty amelioration program even as it tackles the grim task of rehabilitation to address the damage left behind by typhoons.
The President announced the creation of the Special National Public-Private Reconstruction Commission to determine the cost of rehabilitation and raise the fund to cover that cost.
The country would push for grants or non-repayable inflows; concessional loans such as the zero-interest yen loan package from the Japan International Cooperation Agency (JICA); and, as a last option, commercial borrowings either through bonds or other instruments. (PIA)