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Manila Bulletin devider Business devider World Bank cites Dominguez's commitment, contributions

World Bank cites Dominguez's commitment, contributions

Published Aug 28, 2022 08:00 pm

The World Bank Group (WBG) expressed appreciation of former Finance Secretary Carlos G. Dominguez III’s personal commitment and contributions to the “strong partnership” between the Washington-based lender and the Philippines.

In an August 22, 2022 letter to the former DOF chief, WBG President David Malpass said that Dominguez’s “leadership on developing the National Vaccine Program” during the Duterte administration was “instrumental in expanding access of Covid-19 vaccines to all Filipinos.”

Malpass told Dominguez this strong partnership between the WBG and the Duterte administration on his watch extended to other government priority initiatives backed by the multilateral institution.

These included the expansion of safety nets via the Pantawid Pamilyang Pilipino Program (4Ps) for underprivileged Filipinos; the reform programs in the fiscal, financial and business sectors; increased investments in agriculture and infrastructure development, among others.

“Please accept my sincere appreciation on behalf of the WBG for your personal commitment and contributions towards the continued partnership, which led to significant achievements during your tenure as Secretary of Finance,” Malpass said to Dominguez in his letter.

Meanwhile, Malpass said he was looking forward to “a continued strong partnership with the new administration,” and with Dominguez’s successor, Finance Secretary Benjamin E. Diokno.

In February 2019, Dominguez was the first top official from a developing economy to express support for Malpass, who was at that time the US Treasury undersecretary, when then-President Trump nominated him as World Bank president.

During the pandemic, the World Bank had extended $3.67 billion in loans and grants to the Philippines for its Covid-19 containment initiatives.

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