Update on Philippine operations

Update on Philippine operations

Update-on-Philippine-operations-220.jpgFebruary 27 | 2014

On 7-8 November, typhoon Haiyan ripped through the Visayas region of central Philippines, creating storm surges of 6 metres, inundating towns and destroying everything in its path. As communication was almost impossible for weeks after the typhoon hit, at the time it was reported that a total of eight Oikocredit partners were affected on the devastated islands of Leyte and Samar.

Now, three months on, the Oikocredit Philippines office confirmed a total of 11 partners were affected, around a quarter of all partners in the country. The destruction caused partial to complete damage of crops and fruit trees and total losses of homes and personal property. In some cases, lives were also lost. The affected partners include AKMA, ASHI, Bovemco, CARD, LAMP, Leyte 4th, OCCCI, OFMPC, Profoods, SACRED and TSKI.

As an expression of solidarity, Oikocredit provided one-time immediate financial assistance to a total of seven partners to help in the rebuilding stage. Funds were provided to CARD, OCCCI, OFMPC, ASHI and TSKI for relief assistance to victims, while AKMA and SACRED received funds for rehabilitation of damaged farms. Over the past three months, Oikocredit has also restructured loans to affected partners and provided capacity building assistance.

As the rebuilding stage is expected to last several months, Oikocredit will continue to provide updates on affected partners when available.

Typhoon damage in the Philippines

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