Philippines needs to think smart to attract private sector to rebuilding

[World News Headlines -]

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By Karen Lema and Rosemarie Francisco MANILA (Reuters) - The Philippines is compiling a typhoon reconstruction plan which needs to win budget support from Congress and attract funds from the private sector and donors with ideas likely to shape President Benigno Aquino's legacy. It is holding meetings with the private sector and international aid agencies before submitting, possibly next week, a supplementary budget to Congress to fund recovery and reconstruction estimated to reach as much as $5.8 billion. "The problem with the discussion on the supplemental budget is we are rushing the funds but we still do not know what the plan is," said Malou Tiquia, president of political strategy consultancy Publicus Asia. Manila has set priorities such as shelter, resettlement and rebuilding livelihoods, but the plan lacks detail the private sector and foreign aid agencies need to determine how they can help long term.

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