Philippines needs $3b for reconstruction

MANILA - The Philippine government needs a total 130 billion pesos (about $2.95 billion) to rehabilitate the communities in the central part of the country devastated by typhoon Haiyan, locally known as Yolanda, President Benigno Aquino III said Sunday.

The amount not only covers the initial phase of the rebuilding effort, which was estimated to cost 40.9 billion pesos (about $929. 55 million), but also the medium-term recovery program.

"With the help of the World Bank, Asian Development Bank and many other countries and institutions, the estimated 130 billion pesos requirement to address the communities affected by Yolanda is almost complete," the president said after he returned from Japan where he attended the ASEAN-Japan Commemorative Summit.

Death toll from Haiyan has reached 6,057 while injured persons remain at 27,468. Another 1,779 individuals are still missing.