Partners & Borrowers Rebuilding from the Wreckage of Philippine Typhoon
It’s been four months since Typhoon Haiyan, one of the most powerful typhoons ever recorded, tore through the Philippines and displaced 4 million people.
On a recent trip to Tacloban City and the surrounding coastal areas that were devastated by the storm, Kiva staff members saw the level of destruction first hand, and heard heartbreaking stories of loss of life and property. They also saw met many locals determined to rebuild.
Kiva's Field Partner in Tacloban, NWTF, created a special Disaster Recovery loan product to enable their clients to buy the basic materials needed to rebuild their homes. The organization is also offering bridge loans that will help clients restart businesses that were destroyed in the typhoon. The Disaster Recovery loans began listing in late February and are already having a noticeable effect on the ground.
Stay tuned for more reports from Philippines from Meg Gray, Associate Manager of Field Support at Kiva, and Jomay Liu, Kiva’s Knowledge Manager.