The World Bank (WB) is set to approve a $250-million loan in the first quarter of 2027 to fund the Philippines’ Technology-driven, Human-centered Climate and Disaster Resilience through Innovation for Vulnerable Empowerment (THRIVE) project.

According to a Feb. 13 project information document (PID), the Washington-based multilateral lender is targeting Feb. 25, 2027, for the approval of the investment project financing (IPF) for the THRIVE initiative.

The WB said the IPF will be extended to the Philippine government, with the Department of Finance (DOF) serving as the borrower, while the Department of Science and Technology (DOST) will act as the implementing agency.

The THRIVE project aims to strengthen the country’s capacity to monitor natural hazards and enhance risk information and early warning systems, boosting preparedness against disasters and climate-related threats.

“The Philippines is consistently ranked the most vulnerable country in the world to disasters by the World Risk Index,” the WB said. “Typhoons present the highest average annual loss to the country and climate change is amplifying their intensity.”

The WB warned that climate-related disasters could cost the Philippines up to 7.6 percent of gross domestic product (GDP) by 2030 and 13.6 percent by 2040 without proper adaptation measures.

Rising sea temperatures, shifting storms, heavier rainfall, and sea-level rise are increasing flood risks and threatening infrastructure and livelihoods. The bank also highlighted the threat of a magnitude-7.2 earthquake along West Valley Fault in Metro Manila, which could result in up to 48,000 fatalities and $48 billion in damages.

The proposed THRIVE project aligns with the World Bank Group’s (WBG) country partnership framework (CPF) for 2025-2031, particularly its third pillar, which focuses on strengthening socioeconomic resilience. It is also expected to support the WBG’s goals of helping 13 million people improve resilience to climate risks and enabling 20 million people to access digitally delivered services.

The WB said the project is also consistent with the Philippine Development Plan (PDP) 2023-2028, which prioritizes strengthening the capacity of local government units for disaster risk management and scaling up science, technology, and innovation to boost resilience.

Additionally, the WBG’s country climate and development report (CCDR) highlights growing climate vulnerability in urban areas. In response, the THRIVE project will support the DOST in deploying advanced technologies and innovative solutions to reinforce end-to-end early warning systems and risk information services.

The initiative is also expected to advance the DOST’s strategic pillar on wealth protection and sustainability while boosting community resilience, particularly in high-risk areas.

The WB added that the project aims to enhance the speed and accuracy of multi-hazard early warning systems, extend coverage to more communities through operational monitoring stations, and create a centralized platform for risk information and alerts.

While the corporate scorecard indicator, which measures beneficiaries of improved climate risk resilience, could serve as an intermediate benchmark, the WB said the THRIVE project goes further by addressing not only climate risks but also geophysical hazards, providing a more comprehensive approach to disaster preparedness and resilience.