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NR # 3450B
Recently' !yphoon Haiyan or @olanda "as recorded as one of the deadliest natural disasters that ever hit the country' but itAs far from the only one since our country is located in an area that has been struck by a number of ma=or storms' Zamora recalled. Be have suffered from an ine?haustible number of deadly typhoons' earth>uakes' volcano eruptions and other natural disasters due to our countryAs location along the Ring of *ire' or typhoon belt C a large Pacific ;cean region "here many of the 7arthAs volcanic eruptions and earth>uakes occur'0 he e?plained. HB %(5+ seeks to establish the #RR12 to accelerate the early recovery' reconstruction and rehabilitation of areas affected by disasters. !he 2uthority is empo"ered' capacitated' and focused in order to fulfil its mandate better' rather than =ust being a mere coordinating agency. <t is empo"ered to be an implementing authority' "ith the aim of building back better communities and infrastructures'0 Zamora pointed out. He further cited the need to establish an 2uthority "hich shall focus its efforts on addressing the impacts on the economy of disasters' adding that a Bloomberg report stated that the economic impact of super typhoon @olanda in the country may reach up to D:E&,-billion 3PhP -/, billion4. 2side from the establishment of an 2uthority' this legislation also seeks to support survivors' communities' and the affected areas themselves to"ards self-sufficiency and the rebuilding of damagedFdevastated infrastructure as fast as possible to spur economic gro"th in the soonest time after the disaster'0 the author added. Like"ise' the bill envisions the creation of :pecial Zones for Reconstructions in order to speed up the process of rebuilding' offering various incentives and systems for faster economic gro"th in areas hit by a disaster. <t is also vital to note that the #RR12 is authori8ed to receive donations andFor grants from local or foreign sources' and issue reconstruction bonds in consultation "ith the Monetary Board and the 1epartment of *inance. 2ccountability' responsibility and transparency mechanism are put in place to ensure that all funds entrusted to it is used only for the purposes intended'0 Zamora concluded. 3%/4 dpt