Income inequality in the Philippines remained one of the highest rates in East Asia despite important gains in poverty reduction following recent strong economic performance and improving access to employment, the World Bank reported. In a World Bank report titled “Overcoming Poverty and...
The Department of Environment and Natural Resources (DENR) is set to start the accounting and mapping of the Philippine's natural resources as part of the efforts to come up with a reliable and accessible localized data in the country's fight against climate change. DENR Secretary Maria Antonia...
Climate change in the Philippines will continue and accelerate, which poses major risks for the nation’s long-term development, the World Bank warned. Based on the World Bank’s report on Wednesday, Nov. 9, climate change could hamper the country’s ambition of becoming a high-income country by...
The World Bank is eager on supporting the government’s bid to digitalize services and modernize the bureaucracy, the Department of Finance (DOF) said. In a statement Thursday, Aug. 11, Finance Secretary Benjamin E. Diokno said the Washington-based multilateral institution was willing to extend...
In a day, how many times does an average consumer use a product that comes from a sachet or a plastic wrapper? Food, beverage, cookies, cooking ingredients, shampoo, liquid soap come in sachets. Numerous personal items are packaged in plastic –razor, hair brush, cosmetics, hygiene care products,...
The World Bank has expressed interest to fund various infrastructure projects in Sulu that include roads and a major source of potable water for the residents, an official of the Department of Public Works and Highways (DPWH) has disclosed. Emil K. Sadain, DPWH undersecretary for Unified...
When was the last time you read a book? Do you click a title that says ‘five-minute read’ – and finish reading the whole article? Reading is one of the most important skills because it leads to knowledge, self-improvement, and better comprehension of the world around us. Even though that is...
The World Bank said the Philippine government’s debt load remains manageable despite recent acceleration amid the prolonged pandemic. Even it has ballooned, Kevin Chua, World Bank senior economist noted that the government’s debts are mostly held by Filipino creditors, long-dated IOUs and...
The Philippine economy is poised to grow at a much slower pace than government’s target this year due to intensifying global uncertainties, the World Bank said on Wednesday, June 8. Based on World Bank’s Philippine Economic Update June 2022 edition, the Washington-based lender projected that...
A World Bank study recommending reforms in the Philippine Crop Insurance Corp. (PCIC) has found that the state-run firm’s current approach to agricultural insurance neither provides value for money to taxpayers nor adequate protection to farmers. The PCIC is also “very exposed to catastrophe...
The Duterte administration has sealed 22 loan agreements with the World Bank Group (WBG) in the past five-years, bulk of which were used to help finance to country’s war chest against the Covid-19 pandemic, the Department of Finance (DOF) reported. In a statement on Monday, April 25, Finance...
Noting that the Filipino commuters are suffering because of the inefficient public transportation system in Metro Manila, human rights lawyer Chel Diokno on Tuesday, April 19, questioned the government’s slow implementation of the bus rapid transit (BRT) project in Metro Manila that could’ve...
