The World Bank expects the Philippine economy to grow by an average of six percent in the next three years — one of the fastest rates in the region, despite challenges to jobs arising from new technologies like robots and artificial intelligence (AI). In its East Asia and the Pacific...
With about three-fourths of loan proceeds reaching billions of pesos still unspent just months before they expire, the Philippines wants to extend for two more years the financing for a delayed major flood control project in Metro Manila, the country's business and commercial hub that's also the...
Businesses in the Philippines enjoy operating in a strong regulatory environment but are most bogged down by inefficient government support services, the World Bank's new Business Ready report launched on Oct. 3 showed. In the inaugural report that assessed business climate in its pilot 50...
The Marcos Jr. administration will borrow $509.24 million (about P28.7 billion) from the World Bank to enhance health services in rural areas. World Bank documents showed that the Washington-based multilateral lender's board is expected to approve the Philippines Health System Resilience Project on...
The Philippine government is seeking a one-year extension and partial reallocation of a World Bank loan that has been partly funding the Pantawid Pamilyang Pilipino Program (4Ps) since 2021. A World Bank restructuring paper showed that the Department of Finance (DOF) on Sept. 17 requested the...
Downward interest rates and bank reserves would bolster loans to productive economic sectors in the Philippines, according to the World Bank. "Along with lower inflation, the reductions in the real interest rate and lower reserve requirements could spur demand for credit in the near term by...
Nearly three-fourths of the loan for a flood control project in Metro Manila that the World Bank extended to the Philippines seven years ago remained unspent even as this financing is scheduled to end before yearend. A Sept. 30 implementation status and results report seen by Manila Bulletin...
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....
