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 Philippines and the World Bank have signed an $18.85-million grant agreement to strengthen the country’s defenses against future pandemics, while the Washington-based multilateral lender also commended the satisfactory implementation of an ongoing agriculture modernization project. Documents...
The Philippines is set to secure another $1-billion loan from the World Bank in June, this time for an energy project follow-through and coupled with a $20-million grant, making the package the largest single financing commitment extended to the country by the Washington-based multilateral lender....
International Finance Corp. (IFC) is collaborating with Thailand-based renewable energy (RE) developer Sermsang Power Corp. Public Co. Ltd. as the latter pursues its planned entry into the Philippines through a proposed RE generation project on Negros Island. In a disclosure over the weekend, the...
Four global institutions have warned that the prolonged war in the Middle East is posing increasing risks to global energy security, food supplies, and economic growth as oil inventories continue to decline at a record pace. In a joint statement last Friday, May 29, the International Energy...
The Philippines will repay its new $600-million World Bank loan for education reform until 2055, while also securing a separate $24.5-million grant to support sustainable agriculture transformation, newly signed agreements between the government and the Washington-based multilateral lender showed....
Seven multilateral development banks (MDBs), including the Manila-based Asian Development Bank and the World Bank Group (WBG), pledged coordinated support measures to help countries manage the economic fallout from the ongoing conflict in the Middle East. In a joint statement released in Paris,...
