President Rodrigo Duterte has approved an initial P500 million rehabilitation fund for Bicol Region on Dec. 26. The fund is for the region's recovery efforts for the agriculture and fisheries industry affected by Typhoon Nina (international name: Nock-ten). Read on to know more about it.

3 Fast Facts About The Rehabilitation Fund For Bicol Due To Typhoon Nina:

 

1. The rehabilitation fund will come from the Office of the President (OP) and the Department of Agriculture (DA).

In the news release of the Philippine Information Agency (PIA), DA Secretary Emmanuel Piñol said that the P300 million of the rehabilitation fund would come from the OP and P200 million from the DA. PIA  also reported that the partial submission of typhoon's damage on agriculture and fisheries in Bicol region was P4 billion.

2. The P55 million of the rehabilitation fund will be utilized for abaca industry in Catanduanes.

Catanduanes is considered as the world's biggest single producer of the natural fiber with its 33,000 hectares planted to abaca. The abaca industry in Catanduanes can give P100 million annual earnings to farmers.

Piñol further said that Typhoon Nina damaged 85 percent of the standing abaca plant in the province. Furthermore, Catanduanes Governor Joseph Cua said that the damage affected a total of 27,936 hectares of land planted with abaca.

3. The rehabilitation fund will be used for rice seeds and fertilizers for about 5000 hectares of rice land.

The fund is also intended for the repair of fisheries infrastructure in the Bicol Region. On the other hand, President Duterte urged local residents to be more resilient by building stronger houses and becoming more prepared for natural disasters during his visit to Camarines Sur.

“I hope you could recover your bearing. This is a reality which we must accept. Do not despair. [The] Government will help. Life must go on. Recover your bearings,” President Duterte said to the people who gathered in Camarines Sur Provincial Capitol.

READ| Typhoon ‘Nina’ Victims Receive Relief Assistance From DSWD, VP Robredo

What do you think of the approved initial P500 million rehabilitation fund for Bicol? Let us know in the comments section below.