The Philippines is increasingly exposed and vulnerable to natural hazards, which undermines poverty reduction and long-term growth. Typhoon Yolanda (Haiyan), which struck the Philippines in 2013, is considered the strongest typhoon ever to make landfall. Typhoon Yolanda has caused over 6,300 reported fatalities and an additional 2.3 million people were estimated to have fallen below the poverty line. The total damage and loss was estimated at PHP 571.1 billion (USD 12.9 billion) hampering economic growth by about 0.9 % in 2013, and another 0.3 % in 2014.
Forty two days after the typhoon struck landfall, affecting over 14 million people, 4 million remain displaced and, according to the World Food Programme (WFP), 2.5 million still require food assistance. Following damage, loss and needs assessments, the Government of the Philippines yesterday published a US$8 billion strategic plan for reconstruction in the affected areas.