THE World Bank (WB) and other multilateral institutions said they will use their own damage assessments of the losses from the two recent deadly typhoons in considering Manila’s requests for realignment of some slow-moving loans already available to the Philippines.

Bert Hofman, WB Philippines country director, said they can realign up to $400 million in previously approved program loans to support the reconstruction and rehabilitation efforts.

Earlier, Finance Secretary Margarito Teves said the WB can rechannel $200 million in loans and the Asian Development Bank (ADB) some $80 million for reconstruction.

“Secretary Teves said it was about $200 million. That sounds about right, but we have identified more options...so it can be anywhere between $200 or $300 or maybe $400 million. It depends on what options the government will take,” said Hofman after his presentation at the 35th Philippine Business Conference at the Manila Hotel.

The damage inventory and needs assessment will take about a month to complete. They will be presented to the Office of the President and the newly created reconstruction commission.

After this, Hofman said it would take them two weeks of legal work before the funds are made available so this means that by December, the funds from the loan realignment will be ready.

He gave as example of what could happen to the recently approved loan for the rehabilitation of some irrigation channels and to restructure irrigation management.