The government in favour of a national cover against natural catastrophes

The Filipino government is studying an insurance plan against natural catastrophes. The identification of most vulnerable areas to the different natural events will start before the end of the year. The funding mode of this program has not yet been decided. The State will certainly chip in with the prospect of a transfer to the private sector while the World Bank pledges to contribute through technical assistance. Following the considerable damages sustained last year, the bank had already provided a credit line worth 500 million USD in September 2011.