International Finance Corp. (IFC), the private-sector lending arm of the World Bank Group (WBG), will invest up to $25 million in a structured debt fund that will finance financial technology (fintech) companies, including those operating in the Philippines. In an April 13 disclosure, IFC said its...
The World Bank approved another $600-million loan for the Philippines last Good Friday, April 3—this time to fund efforts to improve the country’s education system. In a statement published on Monday, April 6, the Washington-based multilateral lender said over 21 million K-10 students and...
The Philippines is facing an inflationary shock that could spill over to slower economic growth, potential job losses, and more capital market outflows amid a prolonged Middle East conflict, according to the World Bank. The global oil price and supply shock wrought by the war in Iran would “raise...
Multilateral lenders including the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the World Bank Group (WBG) are moving to provide immediate financing and coordinated support to countries reeling from the economic fallout of the Middle East war. In a statement on...
The Philippines has secured its largest-ever loan from the World Bank, with the Washington-based multilateral lender approving $1 billion on Friday, March 27. This funding will support the Philippines Sustainable Agricultural Transformation Project (PSAT), which will be implemented by the...
The World Bank Group (WBG) said it is stepping up support for emerging market (EM) economies like the Philippines, as the ongoing Middle East conflict drives up commodity prices and disrupts global logistics, posing new risks to growth and food security. In a statement on Thursday, March 26, the...
A group of education workers on Tuesday, February 10, sounded the alarm over potential mass layoffs and the intensification of contractualization and privatization policies amid a planned World Bank-led review of the Commission on Higher Education (CHED). Alliance of Concerned Teachers (ACT)...
When the World Bank released its “note on cancelled operation” document on the Philippines Customs Modernization Project last week, it did more than formally close the books on an $88.28-million loan. The document read like a rare institutional post-mortem, spelling out not only why the project...
Following the destructive typhoons that hit the Philippines, the national government is gearing up to tap half a billion dollars in climate funding from the Washington-based World Bank. According to the Department of Finance’s (DOF) Facebook post on Thursday, Nov. 20, the national government is...
The Securities and Exchange Commission (SEC) is pushing for reforms to strengthen the Philippine corporate bond market and broaden capital market access for small and medium enterprises (SMEs), with strategic engagement from the World Bank Group (WBG) and its private-sector lending arm,...
The Department of Education (DepEd) on Wednesday, November 5, announced that it will spearhead a major nationwide reform to accelerate learning recovery and empower local schools, following President Ferdinand R. Marcos Jr.’s approval of the Project for Learning Upgrade Support and...
The Department of Public Works and Highways (DPWH) and the World Bank will start construction of the ₱37-billion Mindanao Transport Connectivity Improvement Project (MTCIP) in 2027 for safer transport and better access across key areas of Mindanao. The project will follow a 22-month design phase...
