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Manila Bulletin devider Business devider Banking & Finance devider Philippines to borrow another $800 million from World Bank for clean energy push

Philippines to borrow another $800 million from World Bank for clean energy push

Published Sep 24, 2025 01:21 pm
The Philippines will borrow $800 million, or over ₱45 billion, from the World Bank next year for another development policy loan (DPL) that aims to increase clean energy use and enhance water management in the country.
In a Sept. 23 project information document (PID), the Washington-based multilateral lender said the Philippines Second Energy Transition and Climate Resilience DPL is scheduled to be approved by its board on Jan. 26, 2026.
The World Bank said the forthcoming program would “support [Philippine government] reforms to scale up adoption of clean energy technologies; increase the security, flexibility, and competition of electricity markets; and improve water management across water uses.”
This program will be jointly implemented by the departments of Energy (DOE), of Environment and Natural Resources (DENR), of the Interior and Local Government (DILG), and of Trade and Industry (DTI), as well as the Energy Regulatory Commission (ERC).
The departments of Budget and Management (DBM), of Economy, Planning, and Development (DEPDev), and of Public Works and Highways (DPWH) will also be involved in program implementation, with the Department of Finance (DOF) designated as responsible for overall coordination and monitoring.
The program would build on reforms jump-started by the Philippines First Energy Transition and Climate Resilience DPL, an also $800-million financing that the World Bank greenlit just last March.
This second phase “deepens the policy and institutional framework needed to scale up renewable energy (RE), improve electricity market efficiency, and strengthen water governance and service delivery,” the World Bank said.
The second DPL would have three pillars, the first of which targets to accelerate RE adoption through an RE market, offshore wind auctions, wider electric vehicle (EV) use, stronger local efficiency measures, and more private clean tech investments.
The second pillar aims to deepen competition and flexibility in the power sector by improving reserve and ancillary markets, resolving stranded costs, and advancing competitive procurement to deliver a more reliable, lower-cost grid.
The final pillar involves improving water security and service delivery by professionalizing local utilities, enforcing cost-recovery tariffs, and expanding funding support to underperforming local government units (LGUs).
As Manila Bulletin reported last May, the Philippines Second Energy Transition and Climate Resilience DPL formed part of the $7.85-billion loans that the World Bank Group’s (WBG) International Bank for Reconstruction and Development (IBRD) had committed to approve in the next two years.
The IBRD is the WBG’s lending arm for developing countries like the Philippines, whose climb to upper-middle-income country (UMIC) status is supported by their new six-year lending program or country partnership framework (CPF) covering the lender’s fiscal years (FYs) 2026 to 2031.
The WBG plans to extend to the Philippines as much as $23 billion in loans and other financing, including $18 billion through the IBRD, from mid-2025 to mid-2031.
Also in the World Bank’s lending pipeline for the Philippines during the current FY 2026, which started in July this year, are at least eight other upcoming loans: $600 million for the Project for Learning Upgrade Support and Decentralization, up for approval in November; $18.85 million for Pandemic Fund-Resilient Philippines, $800 million for the Philippines Growth and Jobs DPL, and the biggest-ever single loan of $1 billion for the Philippines Sustainable Agriculture Transformation (PSAT) Program in December; as well as $250 million for the Philippines Skills Project, $275.39 million for the Philippines Accelerated Water and Sanitation Project in Selected Areas (AWSPSA), $358 million for the Improving Micro, Small and Medium Enterprise (MSME) Access to Finance for Resilience to Climate Shocks, and $650 million for the Social Protection for Economic Inclusion, Empowerment, and Digital Innovation (SPEED) Project in March next year.

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World Bank World Bank Group (WBG) country partnership framework (CPF) upper-middle-income country (UMIC) status
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