Four Philippine projects funded by World Bank loans totaling over $1.37 billion (nearly ₱80 billion) are progressing satisfactorily, according to the Washington-based multilateral lender. In separate implementation status and results reports this month and last month, the World Bank said the...
Filipino workers need not worry about artificial intelligence (AI) immediately taking over their jobs as the World Bank reported that developing countries, including the Philippines, have lower exposure to AI disruptions. "For developing countries, and in particularly low-income countries, the...
Developing economies, including the Philippines, are projected to have the weakest average growth in the first 25 years (2001–2025) of the century, and these countries will continue to grapple with growth setbacks in the next quarter, the World Bank said. According to the multilateral lender’s...
While the East Asia and Pacific region has driven the reduction of the Global Prosperity Gap (GPG), the Philippines remains classified as a country with high inequality, World Bank data revealed. According to a World Bank blog published on Jan. 8, the region has greatly contributed in closing...
The Philippine government is leveraging support from foreign lenders this year to drive its development objectives, securing billions in loans for projects aimed at transforming the country. Online documents reviewed by the Manila Bulletin revealed that the Marcos administration will borrow a total...
At the start of next year, selected elementary schools in the provinces of Lanao del Sur and Maguindanao would receive funding under a World Bank-assisted, civil society-led project aimed at improving primary education in previously war-torn areas in the southern Mindanao island. "The training on...
The Philippines' justice system lags behind not only in the region but also globally in terms of access, efficiency as well as quality, according to data aggregated by the World Bank. The Washington-based multilateral lender's Prosperity Data360 Justice Country Snapshots for the Philippines...
A decade after approving its loan for the Cebu bus rapid transit (BRT) project, the World Bank lamented sluggish implementation and warned it may remain unfinished when the financing ends two years from now. In a Dec. 19 implementation status and results report, the Washington-based...
US President-elect Donald J. Trump's plan to mass deport America's illegal migrants won't dent remittance flows to countries reliant on these cash transfers, according to a World Bank official. This, as the Washington-based multilateral lender expects the Philippines to remain as the world's...
Due to project implementation delays, the Philippines is seeking the extension of two loans obtained by the previous Duterte administration from the Asian Development Bank (ADB) and the World Bank. Documents showed that the Department of Finance (DOF), on behalf of the Philippine government, asked...
The entry of products deemed environment-friendly to the Philippines—a net goods importer—faces challenges due to expensive non-tariff barriers, according to the World Bank. "The Philippines' share of green goods trade is relatively low, partly due to the high incidence of non-tariff...
The Philippine government and the World Bank have kick-started the implementation of a project loan aimed at putting in place a climate-resilient, inclusive as well as secure broadband connectivity in the country. The World Bank disclosed on Dec. 12 that Finance Secretary Ralph G. Recto, on behalf...
