With an average of $3.5-billion (about P204 billion) asset losses inflicted by a string of strong typhoons and earthquakes to the Philippine economy each year, the World Bank enjoins tapping disaster-risk finance, especially private-sector insurance, to boost preparedness. In an Oct. 31 report...
Philippine-assembled electronics—the country's top merchandise export—may be hurt by bigger Chinese production, the World Bank said. In an Oct. 31 report, the Washington-based multilateral lender cited that the Philippines' semiconductor exports shrank 13.8 percent year-on-year in...
The Philippines needs to keep pursuing tax reform measures pending in Congress en route to its plan to narrow its yawning budget deficit, according to the World Bank. In its Philippines Monthly Economic Developments report for October 2024, the World Bank noted that the fiscal deficit as a share of...
With the harsh effects of climate change posing a threat to economic development, the Philippines is increasingly harnessing renewable energy (RE), with the help of a forthcoming $600-million (nearly P35-billion) loan from the World Bank. The Washington-based multilateral lender disclosed that its...
The Philippines will borrow $67.34 million (over P3.9 billion) from the World Bank to modernize Filipino civil servants. An Oct. 25 document disclosed that the Washington-based multilateral lender's board is expected to green-light its investment project financing for the Philippines Civil...
A Mauritius-based fund manager is eyeing a $50-million investment from the International Finance Corp. (IFC) to support medium-sized firms in the South and Southeast Asian regions, including the Philippines. The IFC disclosed on Oct. 22 that Creador Management VI Ltd. sought funding from the World...
The Philippines is the World Bank's fifth-biggest borrower for the second-straight year, coinciding with the first two years in office of President Ferdinand R. Marcos Jr. The World Bank's latest Annual Report disclosed on Oct. 18 showed that in fiscal year 2024 covering the period July 1, 2023 to...
Financial markets in the Philippines and the broader Asia-Pacific region stand to benefit from downward interest rates in the United States, although risks from a "benign" US economy may temper gains, according to a World Bank economist. "So far, the decline in interest rates in advanced...
Incomes of Filipino farmers and fisherfolk have climbed, thanks to a World Bank-financed project of the Department of Agriculture (DA). In an Oct. 16 implementation status and results report, the Washington-based multilateral lender said the DA's Rural Development Project has so far jacked up the...
Despite delays due to budget cuts, the World Bank has lauded the implementation of its one-decade-old financing for a local community poverty-reduction program of the Department of Social Welfare and Development (DSWD). Referring to its loans for the DSWD's National Community-Driven Development...
The International Finance Corp. (IFC) has green-lit a loan package for Filipino firm Asialink Finance Corp. (AFC) to help boost small business lending in the Philippines. The private-sector lending arm of the World Bank Group (WBG) disclosed on Friday, Oct. 11, that the senior loan financing...
The World Bank has cited progress in the Department of Agriculture's (DA) rural development project scale-up, for which the Philippines borrowed $600 million or over P34 billion last year. "The overall project's initial implementation performance is considered satisfactory. Implementation and...
