ADB eyes private capital for Philippine rebuilding

Ramesh Subramaniam, deputy director-general, Southeast Asia, for the Asian Development Bank, tells FinanceAsia that the Philippine government will need help to pay for reconstruction in the wake of Typhoon Haiyan.

The Philippines could be set for a wave of entrepreneurism as a need for infrastructure and innovation following Typhoon Haiyan attracts fresh private capital, according to the person leading the Asian Development Bank’s response to the crisis.

Ramesh Subramaniam, the ADB's deputy director-general for Southeast Asia, took over the bank’s response to the crisis on Tuesday, having coordinated its reaction in Aceh to the Indian Ocean tsunami of 2004.

On his first day at the reins, he told FinanceAsia there is already evidence that new opportunities are likely to emerge as the affected areas’ economies begin to build. 

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