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    GSK enters agreement to acquire Nuvalent, Inc.

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    WellSpan Health and Philips Announce Landmark Strategic Alliance, Accelerating Innovation and Research Across Central Pennsylvania and Northern Maryland

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    GSK enters agreement to acquire Nuvalent, Inc.

    Telenor receives approval to acquire GlobalConnect’s consumer business in Norway.

    Mr. Ravindran Govindan, Chairman of Fischer Medical Ventures Limited.

    NYB.AI Featured in NVIDIA GTC Taiwan 2026 Opening Showcase, Marking Milestone in AI-Driven Drug Discovery Collaboration.

    Blackstone-backed AirTrunk plans to invest US$30bn and +5GW in India.

    India Emerges as World’s Most Trusted Investment Destination: Union Minister of Commerce and Industry,Piyush Goyal at Citi India Conference 2026.

    WellSpan Health and Philips Announce Landmark Strategic Alliance, Accelerating Innovation and Research Across Central Pennsylvania and Northern Maryland

  • National
    • All
    • Economy & Politics
    • Election

    NRAI Expands Presence in Karnataka with Launch of Mangaluru & Western Karnataka Chapter.

    PHOTO CREDIT-TITAN

    Titan Watches sets Guinness Book of World Records with Zero Hour 500M Professional Diver’s Automatic Watch

    Mr. Ravindran Govindan, Chairman of Fischer Medical Ventures Limited.

    NYB.AI Featured in NVIDIA GTC Taiwan 2026 Opening Showcase, Marking Milestone in AI-Driven Drug Discovery Collaboration.

    The Hon’ble Home Minister of Karnataka,  Priyank Kharge,

    *Home Minister Priyank Kharge directs strict age verification at pubs, breweries, bars, clubs and liquor-serving establishments*

    Vikassheel Insaan Party Officially Enters Karnataka Politics.

    State-Level Consultation Meeting on Prevention of Drug Abuse .

  • Business

    GSK enters agreement to acquire Nuvalent, Inc.

    Telenor receives approval to acquire GlobalConnect’s consumer business in Norway.

    Mr. Gaurav Taneja & Mr. Raj Vikram Gupta, Co-Founders, BeastLife

    D2C Nutrition Brand BeastLife Targets Turnover of ₹250 Crore in FY27; Plans Expansion Through Offline Retail, Beast Cafés and Vending Machines.

  • Health
    Mr. Ravindran Govindan, Chairman of Fischer Medical Ventures Limited.

    NYB.AI Featured in NVIDIA GTC Taiwan 2026 Opening Showcase, Marking Milestone in AI-Driven Drug Discovery Collaboration.

    Narayana Health City Performs India’s First Pulsed Field Ablation for Advanced Treatment of Atrial Fibrillation.

    WellSpan Health and Philips Announce Landmark Strategic Alliance, Accelerating Innovation and Research Across Central Pennsylvania and Northern Maryland

    Dr. M. R. Jayaram, Chancellor, RISM, and other RISM members addressed a press meet organized on Monday, 1st June 2026 at the Ramaiah Institute of Science and Management, Bengaluru

    Ramaiah Group and University at Albany Launch RISM, India’s First Greenfield Deemed-to-be University Focused on STEM and Management.

    Samsung Announces World-First Breakthrough in Fainting Prediction With Galaxy Watch.

    PHOTO CREDIT-PHILIPS

    Disney and Philips bring together beloved storytelling and innovative technology to support kids undergoing MRI exams

  • Technology
    • All
    • Environment
    • Science

    SAP Labs India Unveils 2026 Startup Studio Cohort Focused on Enterprise AI and Deep-Tech Innovation.

    Cisco Unveils Agentic Platform for Operating and Defending Critical IT Infrastructure.

    IIMC launches AI academy in Media & Entertainment to build future-ready AI capabilities in Indian Media

    IBM and Red Hat Commit $5 Billion to Redefine the Future of Open Source in the AI Era.

    FAO outlines urgent measures and policy recommendations to avert severe crisis within six to 12 months

    IBM and U.S. Department of Commerce Announce America’s First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS Award .

  • Auto

    Flex Fuel Vehicles offer India a practical solution to reduce crude oil imports, provide additional income to Indian farmers, and advance low-carbon mobility: Sh. Hardeep Singh Puri

    Audi announces third generation of the Q7.

    India’s First D+ SUV - MG MAJESTOR

    MG MAJESTOR 4X2 Automatic Top Trim Launched at INR 40.99 Lakhs(ex-showroom price)

    PHOTO CREDIT-HONDA

    Honda launches the New Honda City and marks India Debut of its Global Sporty Hybrid SUV All New ZR-V e:HEV.

  • Sports

    NR Group Continues Support for Indian Open of Surfing 2026 for Third Consecutive Year.

    Praggnanandhaa Defeats Gukesh in All-Indian Clash, Enters Final Round in Title Hunt.

    CRICKETER OF THE CENTURY: A Prediction Before the World Took Notice

    Shriram Finance Limited - Padukone School of Badminton Logo

    Shriram Finance Announces Alliance with Padukone School of Badminton to Boost Grassroots Talent Across India

  • Entertainment

    Actor Dr. Rajkumar’s 97th birthday celebration on April 24th, at 10.30 am in Dr. Rajkumar Punyabhoomi premises of the Sri Kanteerava Studio .

    Doordarshan Chandana has launched an innovative farmers’ reality show named “Raitaratna” (ರೈತರತ್ನ).

    Phoenix Marketcity brings you a legendary live concert by PADMA BHUSHAN KS CHITRA.

    UNDP Goodwill Ambassador and ‘Game of Thrones’ star Nikolaj Coster-Waldau highlights Odisha’s mangrove restoration story in global documentary series

    House of McDowell’s Soda Yaari Jam, India’s Biggest Branded Live IP, Touches down in Kolkata

    “Virgin Boys” – A Bold Telugu Youth Drama Captures Hearts Across Theatres

  • Lifestyle
    • All
    • Food
    • Travel

    Samsung Announces World-First Breakthrough in Fainting Prediction With Galaxy Watch.

    “Our vision is to make nutrition a standard feature in every kitchen, not a luxury.”-Mr. Jambulingappa Hosmani, MD, Panchamrutha Industries Pvt. Ltd

    Change in timings of ration distribution and fair price shops in Bengaluru.

    Barbeque Nation presents with Kenneth Gopinath.

    HCG Expands Oncology Presence with New Hebbal Hospital.

    Leaders, clinicians, and experts at Manipal Hospital Whitefield come together to celebrate a landmark achievement in robotic-assisted surgery, reflecting the hospital’s commitment to precision-led, minimally invasive care across multiple specialties.

    Manipal Hospital Whitefield Celebrates a Landmark Achievement in Robotic Surgery.

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$408 Million ADB Financing Package to Aid Marawi Rebuilding

FWM by FWM
December 14, 2018
in World
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ADB's assistance will help in the rebuilding and rehabilitation of the southern Philippine city of Marawi and help residents regain their livelihoods.

ADB's assistance will help in the rebuilding and rehabilitation of the southern Philippine city of Marawi and help residents regain their livelihoods.

MANILA, PHILIPPINES (14 December 2018) — The Asian Development Bank (ADB) approved today a $408 million financing package to assist the government in rebuilding and rehabilitating the southern Philippine city of Marawi and help residents regain their livelihoods.

The Emergency Assistance for Reconstruction and Recovery of Marawi package includes a $300 million quick disbursing loan to finance selected programs, projects, and activities under the government’s Bangon Marawi Comprehensive Rehabilitation and Recovery Program covering local governance and peacebuilding, housing and settlement, business and livelihood, and social services.

A second loan of $100 million will finance the reconstruction and rehabilitation by the Department of Public Works and Highways of damaged infrastructure in the city, including about 25 kilometers of roads and 1,700 meters of bridges and viaducts. The infrastructure will be built back better, climate resilient, and will incorporate gender-responsive and inclusive physical design features to enable safe use by women, children, elderly, and people with disabilities.

Many internally displaced people (IDPs) are slowly returning to Marawi and surrounding municipalities after the five-month siege in 2017. The delivery of basic utilities, social  services, and educational resources for children of IDPs have yet to catch up with the needs of residents.

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ADB Vice-President Mr. Stephen Groff led a team of ADB staff on a visit to Marawi City in November 2018 to meet with local officials, residents of a transitional shelter, and students at a temporary school, and to see firsthand the damage in the city center.

“In my interaction with residents of Marawi, they expressed their desire for a better future for their children. We hope that through this new ADB loan and grants package, we can help transform Marawi into a thriving economic center in southern Philippines, where people live in peace and prosperity,” Mr. Groff said.

In addition to the loans, ADB will provide $8 million in grants to restore and rehabilitate water supply systems in 19 barangays (villages). A portion of the grants will also construct local health units with facilities that meet or exceed national standards, procure mobile medical clinics, scale up emergency employment programs and livelihood programs, and deliver primary education in IDP communities.

“With the government’s recovery plan in place, it’s essential that we quickly implement and roll out the programs. It’s important to focus on helping young Maranaos regain a sense of normalcy in a safe learning environment, which they are longing for,” said ADB Country Director for the Philippines Mr. Kelly Bird. “A key component of our grants assistance will equip temporary learning places with better equipment and resources. We will also provide them with culturally sensitive psycho-social support and peace education.”

Mr. Bird said the mobile health facilities will be deployed to areas where IDPs reside to ensure easy access to primary care.

The financing package follows the technical and advisory support ADB delivered to the government, including the post-conflict damage and needs assessment completed by the Task Force Bangon Marawi, the Office of Civil Defense, the National Economic and Development Authority, and other development partners in December 2017.

ADB’s support to Marawi’s rebuilding is aligned with its new Country Partnership Strategy, under which up to $1 billion in development assistance is set to be prepared from 2018 to 2021 to address poverty and income inequality in Mindanao.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.

Tags: Asian Development Bank (ADB)internally displaced people (IDPs)
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