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Manila Bulletin devider Business devider The Economy devider Philippines to repay newest $700-million World Bank loan up to 2053

Philippines to repay newest $700-million World Bank loan up to 2053

Published Sep 9, 2025 12:07 pm
The Philippines will repay its latest $700-million (over ₱39-billion) World Bank loan, which is aimed at strengthening community resilience, until 2053.
The latest World Bank documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine government, signed the loan agreement for the Philippines Community Resilience Project-Pagkilos on Monday, Sept. 8.
Zafer Mustafaoğlu, division director for the Philippines, Malaysia and Brunei, signed the same agreement on behalf of the Washington-based multilateral lender last Aug. 12.
As both sides have already signed the loan agreement, this financing will take effect in three months’ time.
The five-year loan, which closes on Dec. 31, 2030, will be repaid every June 1 and Dec. 1 starting the year 2036.
The World Bank financing accounted for the bulk of the total project cost amounting to $874.35 million (over ₱49 billion), with the remaining $174.35 million (nearly ₱10 billion) to be funded by the Philippine government.
The loan agreement noted that the Philippines Community Resilience Project-Pagkilos aims to strengthen community capacities for participatory resilience planning while increasing access to resilient investments in vulnerable areas.
The project, which will be implemented by the Department of Social Welfare and Development (DSWD), consists of four parts, namely: community grants for resilient planning and investment (community resilience); institutional support for local resilience; project monitoring, evaluation, and management; as well as a contingent emergency response component (CERC).
After the World Bank board approved this loan last July 31, the lender said in a statement that enhanced community-led planning and infrastructure investments under the Pagkilos project are expected to reduce the vulnerability of about 18 million Philippine households to natural disasters in the coming years.
According to the World Bank statement, Pagkilos will provide technical support and training to community groups and local government units (LGUs) in 500 climate-vulnerable municipalities across 49 provinces, with a focus on enhancing their ability to plan and manage projects that address climate challenges.
The project targets vulnerable populations, including indigenous peoples (IPs), women, and beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps), to ensure resilience efforts are inclusive, the World Bank had said.
Also, Pagkilos will use a community-driven approach to engage citizens in local planning and implementation, supporting a total of 177 municipalities with significant IP populations, according to the World Bank.
For the remainder of its current fiscal year (FY) 2026, which started in July this year, the World Bank is expected to approve at least seven more loans for the Philippines: a $600-million loan for the Project for Learning Upgrade Support and Decentralization in November; a $18.85-million loan for the Pandemic Fund-Resilient Philippines, $800 million for the Philippines Growth and Jobs Development Policy Loan (DPL), and the largest-ever single loan of $1 billion for the Philippines Sustainable Agriculture Transformation (PSAT) Program in December; as well as a $250-million loan for the Philippines Skills Project, $275.39 million for the Philippines Accelerated Water and Sanitation Project in Selected Areas (AWSPSA), and $358 million for the Improving Micro, Small and Medium Enterprise (MSME) Access to Finance for Resilience to Climate Shocks in March 2026.
As the Manila Bulletin reported earlier, the World Bank Group (WBG) plans to extend to the Philippines as much as $23 billion in loans and other financing from mid-2025 to mid-2031, which coincides with the lender’s FYs 2026 to 2031, amid the country’s climb to upper-middle-income-country (UMIC) status.
Under their new six-year country partnership framework (CPF), the Philippines is scheduled to borrow about $7.85 billion from the WBG’s International Bank for Reconstruction and Development (IBRD) in the next two years. IBRD is the WBG’s lending arm for developing countries like the Philippines.

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World Bank World Bank Group (WBG) Ralph G. Recto country partnership framework (CPF)
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