China donates P7.2 million to Taal victims

MANILA, Philippines — China has committed to donate 1 million renminbi, or about P7.2 million in cash aid, for those affected by the eruption of Taal Volcano last month.

Finance Secretary Carlos G. Dominguez III thanked Beijing for the assistance and noted, in a statement, that China also donated 3 million renminbi, or P22 million, to Mindanao after a series of earthquakes late last year.

Last week, Dominguez said that while the country’s economic managers expect the economy to grow faster this year than last year’s 5.9-percent growth, among the challenges were “natural hazards such as threats posed by the eruption of the Taal Volcano.”—Ben O. de Vera