SINGAPORE — The Department of Transportation (DOTr) is confident that more private-sector bidders will participate in the Philippines’ upcoming railway public-private partnership (PPP) projects as the government increasingly taps multilateral development banks (MDBs) to provide financing...
Maynilad Water Services Inc. has tapped International Finance Corp. (IFC) for a $500,000 infrastructure advisory services project aimed at strengthening the west zone concessionaire’s sustainability and resilience strategy. In a disclosure last Monday, June 15, IFC said the project was approved...
SINGAPORE — The Philippines is among the countries best positioned to help meet Asia’s rapidly growing electricity needs, with its rich geothermal resources as well as expanding wind and solar sectors offering significant potential for renewable energy (RE) development, according to...
The Philippines has sought World Bank backing for a $1-billion program aimed at tackling the country ’ s plastic waste problem, starting with Metro Manila. In a June 10 document, the World Bank said that the proposed Clean Philippines Multiphase Programmatic Approach (MPA) is designed to improve...
The World Bank Group (WBG) has lowered its 2026 growth forecast for the Philippines to 3.7 percent, warning that the ongoing war in the Middle East is weighing heavily on energy-importing economies and threatening to push global growth to its weakest pace since the onset of the Covid-19 pandemic....
Amid a prolonged global oil crisis, the Philippines is poised to secure fresh grant and loan financing from bilateral as well as multilateral partners to support power-sector reforms and the transition to more renewable energy (RE) sources. United States (US) aid agency Millennium Challenge Corp....
The World Bank has approved a six-month extension of its $300-million loan for a delayed project aimed at strengthening Metro Manila’s preparedness for “The Big One” earthquake, after the Philippine government sought more time to implement key activities that have yet to begin. In a...
The World Bank has urged Philippine implementing agencies to focus on completing the long-delayed Metro Manila Flood Management Project amid signs of progress and with less than six months remaining before its financing expires. In a June 7 implementation status and results report, the...
Despite widespread public concern about climate change, financing and institutional constraints continue to hamper the Philippines’ efforts to strengthen climate resilience and adaptation measures, according to state-run policy think tank Philippine Institute for Development Studies (PIDS). In...
The China-backed Asian Infrastructure Investment Bank (AIIB) is expected to provide a $200-million loan to co-finance with the World Bank a forthcoming $1-billion policy-based financing package that will support the Philippines’ energy transition, electricity market reforms, and water-sector...
A stronger and more resilient middle class is critical to sustainably reducing poverty and achieving inclusive economic growth in the Philippines, according to the Department of Economy, Planning, and Development (DEPDev). Speaking at the launch of the World Bank’s Poverty and Equity Assessment...
Quezon City Mayor Joy Belmonte emphasized the crucial role of local government units (LGUs) in strengthening the Filipino middle class and advancing poverty reduction during a World Bank forum on Friday, June 5. She made the statement at the launch of the World Bank report and forum titled...
