The World Bank is dangling a new $2.5-billion financing program to push East Asian and Pacific countries towards renewable energy (RE) use. The Accelerating Sustainable Energy Transition Program would "contribute to reducing greenhouse gas (GHG) emissions by 60 million tons over its lifetime while...
Women-led and women-owned business incubator Villgro Philippines has secured a financial grant from the United States Agency for International Development (USAID) for its gender and climate initiatives. While USAID did not disclose the grant amount, the aid agency said in a Sept. 23 statement that...
The World Bank has cited progress in spending the $178.1-million loan that the Philippines obtained two years ago to fight prevalent stunting among Filipino children. A Sept. 23 implementation status and results report showed the Washington-based multilateral lender upgraded the overall risk rating...
The Department of Education (DepEd) announced on Tuesday, Sept. 17, that its key officials met with senior officials from the World Bank Philippines to review their collaborative efforts in addressing challenges in basic education in the country. (Photo from DepEd) Led by DepEd Secretary...
The World Bank is committed to extend to the Philippines more loans, possibly blended with grants to slash interest costs, in order to bankroll flood control as well as climate change mitigation and adaptation projects as extreme weather poses a bigger threat to Filipino lives and livelihoods....
Users in developing countries such as the Philippines have been maximizing generative artificial intelligence (GenAI) tools like ChatGPT to make their work—and lives—easier, according to the World Bank. "Countries like India, Brazil, the Philippines, and Indonesia exhibit high rates...
The World Bank has flagged the delay in implementing the over one-year-old Philippine fisheries and coastal resiliency project (FishCoRe), for which the Marcos administration had borrowed $176 million (over P9.9 billion). "Despite the progress made, the project is still falling behind the overall...
Easing food price pressures in the Philippines are sustainable, according to the World Bank, lessening the pain inflicted by inflation on consumers’—especially the poor’s—pockets. "Food inflation is expected to decline following further reductions in import tariffs implemented in late July...
The World Bank is crafting its lending plan for the Philippines covering the years 2025 to 2028, the period during which the country will likely rise to upper middle-income status and gradually lose access to preferential borrowing rates. The World Bank Group Philippines Country Partnership...
The hurdle to climb to upper-middle income status under the World Bank's classification became even harder, such that the Philippines remained the only Association of Southeast Asian Nations (ASEAN) founding member languishing as lower-middle income. The latest data released by the Washington-based...
The World Bank has appointed a new country director for the Philippines, Malaysia, and Brunei Darussalam, effective July 1. Zafer Mustafaoglu, a Turkish national, will oversee the World Bank's program in these countries to advance its policy dialogues with government officials, civil society,...
As the Philippines enjoys among the lowest remittance fees, this year's growth of money sent back home by Filipinos working and living overseas will rebound to outpace last year's slowdown, according to the World Bank. In its Migration and Development Brief 40 titled "Remittances Slowed in 2023,...
