Fifteen years from now, the Philippine economy could accelerate by 6.8 percent yearly if the country continues to improve regional connectivity, productivity, and resource allocation, the Washington-based World Bank stated. According to the multilateral lender’s latest report on Philippine growth...
The Washington-based World Bank has committed to lend the Philippines $350 million, or over ₱19 billion, for an upcoming Department of Agriculture (DA) project aimed at extending financing support to small agri-businesses. A July 11 project information document showed a project cost of $873...
The Department of Agriculture (DA) is set to receive a technical assistance grant from the World Bank that will support programs aligned with the forthcoming $1-billion program loan from the Washington-based multilateral lender. In a concept document published on July 7, the World Bank said its...
After the successful bidding to privatize the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plants, the government and private-sector players may next look forward to another public-private partnership (PPP) in rehabilitating the decades-old Agus-Pulangi hydropower complex in Mindanao. Power...
The Department of Agriculture (DA) is set to receive a loan financing from the Washington-based multilateral lender World Bank next year for a project aimed at supporting small agri-businesses. A June 26 document published on Thursday, July 3, showed that the DA is seeking an investment project...
With limited time remaining before its loan financing for the long-delayed Cebu bus rapid transit (BRT) expires, the World Bank has recommended downscaling the project under the watch of the newly elected provincial and city officials. “The pace of project implementation has slowed down...
President Ferdinand Marcos Jr.’s chief economic manager said that achieving upper-middle-income country (UMIC) status is definitely attainable by the end of 2025 or 2026, citing the still expansionary national budget planned for next year to stimulate the economy. “Surely, we will attain UMIC...
As widely expected, the Philippines remained classified as a lower-middle-income country (LMIC) after narrowly missing the lowered threshold to achieve upper-middle-income country (UMIC) status, based on the World Bank’s latest country income classification. The latest data released by the...
The Civil Service Commission (CSC) is expected to kick off its planned modernization activities, which will be funded by a World Bank loan, this July. In a June 30 implementation status and results report, the World Bank said that the CSC’s Philippines Civil Service Modernization Project is...
The world’s multilateral development banks (MDBs) have reaffirmed their commitment to advancing key infrastructure projects, including the Association of Southeast Asian Nations (ASEAN) Power Grid, by streamlining co-financing processes and expanding tools like local currency lending and foreign...
Despite delays, the Metro Manila flood control project being funded by loans from the Washington-based World Bank Group (WBG) and the China-led Asian Infrastructure Investment Bank (AIIB) has so far benefitted over half a million residents in flood-prone areas. “To date, more than 600,000 people...
The Philippines is seeking a World Bank loan worth billions of pesos to enhance technical-vocational education and training (TVET) in the country. In a concept document dated June 24, the World Bank said the investment project financing (IPF) for the proposed $250.625-million (over ₱14-billion)...
