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Manila Bulletin devider Business devider World Bank to OK $700-million Philippine loan to boost community resilience in July

World Bank to OK $700-million Philippine loan to boost community resilience in July

Published Apr 9, 2025 08:44 am

The World Bank would greenlight a $700-million (over ₱40-billion) loan for the Philippines in July, aimed at making local communities more resilient to natural disasters.

According to a World Bank appraisal project information document dated April 8, the objective of the upcoming Philippines community resilience project, or "Pagkilos," is to "strengthen community capacities for participatory resilience planning and deliver resilience investments in vulnerable areas."

This project will be implemented by the Department of Social Welfare and Development (DSWD).

On behalf of the Philippine government, the Department of Finance (DOF) will borrow from the World Bank the bulk of investment project financing (IPF). The project has a total cost of $874.35 million, or more than ₱50 billion.

The remainder of the project cost, amounting to $174.35 million, or almost ₱10 billion, will be shouldered by the national government. This counterpart Philippine financing will be sourced from the national budget.

The World Bank board is scheduled to approve this project loan on July 28.

The five-year Pagkilos "will help strengthen the resilience of vulnerable communities in rural areas by preparing them to manage a variety of future risks and shocks, including in particular those associated with climate change and natural hazards, which are exacerbated by poverty and a lack of basic services," the World Bank said.

The project will also "contribute to strengthened inclusive resilience planning and community capacity for managing climate and disaster risks and deliver resilience investments," the Washington-based multilateral lender added.

"Resilient and resilience infrastructure is essential for maintaining service delivery, economic stability, and social inclusion," it noted.

Besides this forthcoming financing for Pagkilos, the World Bank is set to approve four other loans for the Philippines for the remainder of 2025: the $4-million roads to development project for the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) on April 30; the record $1-billion Philippines sustainable agricultural transformation program on June 24; $240.6-million accelerated water and sanitation project in selected areas on June 27; and $600-million project for learning upgrade support and decentralization on Sept. 26.

Related Tags

World Bank Department of Finance (DOF) Department of Social Welfare and Development
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