The Philippines relies significantly on the World Bank (WB) and the Asian Development Bank (ADB) for its long-term, big-ticket infrastructure and related development projects. According to the Department of Economy, Planning, and Development (DEPDev), formerly NEDA, the country’s total active Official Development Assistance (ODA) portfolio reached $39.6 billion in 2024, a six percent increase from $37.3 billion in 2023.

Along with the Japanese government, the ADB and the WB each fund a significant portion (around 20 percent each) of the Philippines' infrastructure projects, complementing local funding and private sector participation. In 2024, the Philippines was the ADB's second-biggest recipient of financial assistance, receiving $6 billion in total financing and co-financing.

The ADB has committed over $36.5 billion in public sector support to date, with a large portion dedicated to transport projects like the North–South Commuter Railway system. The WB plans to extend as much as $23 billion in loans and other financing from mid-2025 to mid-2031.

This relationship underscores a mutually beneficial partnership, where the Philippines receives essential capital and expertise for its ambitious infrastructure goals, and the WB and ADB support key development and economic growth initiatives in a major regional economy.

It is within this context that senior leaders of the Philippine business community have expressed concern about the widespread graft and corruption scandal that has triggered massive protest from various concerned sectors. Although cut short by a day, the Luneta rally organized by the Iglesia ni Cristo mobilized hundreds of thousands of participants.

This is expected to be duplicated by the Trillion Peso March on Nov. 30 at the People Power Monument that will be mounted by a multisectoral mass movement that staged a similar mammoth rally last Sept. 21.

“Eternal vigilance is the price of liberty” is a well-worn adage that bears reiteration. Organized efforts to inform, enlighten and mobilize the populace reflect the vibrancy of civic spirit that animates the current protest movement.

Concerned senior leaders of the business community also issued a joint statement affirming that the country is a suitable investment venue, in earnest efforts to address foreign investors’ jitters. It is in this context that the continuing institutional support extended by multilateral development institutions provides propulsion to the government’s earnest efforts to pursue attainment of its macroeconomic targets.

But much more needs to be done.

Congress is seeking to enact a law that will strengthen the Independent Commission on Infrastructure (ICI). Sixteen senators have signed the Justice Committee report seeking to replace the ICI with an Independent People’s Commission (IPC) armed with a broader mandate for exacting accountability. The House version also envisions expanded authority for a proposed Independent Commission Against Infrastructure Corruption (ICAIC), including the ability to issue subpoenas, hold departure orders, and directly file cases, even with the possibility of livestreaming public hearings.

Once the cases are filed in court, the people expect that justice will be meted out expeditiously and those adjudged guilty will serve prison terms commensurate to their crimes. Indeed, the people earnestly await these developments. At no other time is there palpable clamor that justice be served regardless of any potential negative outcomes or external pressures.

As the Latin phrase declares, Fiat justitia ruat caelum. Let justice be done though the heavens fall.