Typhoon Bopha claims the lives of more than 700 people

More than 700 people are dead or missing after Typhoon Bopha lashed the Philippines in early December 2012. Damages are estimated at nearly 160 million USD, two thirds of which pertain to agricultural losses. The State has initiated a loan-granting system to the families affected by the disaster. These loans amount to 20 000 PHP (487 USD), and are refundable in three years at a 6% rate. The American government has donated 100 million USD to the victims of the disaster.