The World Bank has extended a $1.7-million, or over ₱98-million, grant to the Philippines to help prepare for a potential project loan that would support early childhood education in the country. In a Sept. 20 letter to Finance Secretary Ralph G. Recto, the World Bank said this financing was...
The Philippines has sought to restructure disbursement estimates and project targets for a World Bank loan aimed at enhancing teachers’ competencies, as its implementation stalled due to late budget releases and procurement issues. In a Sept. 28 restructuring paper, the World Bank said that since...
The Philippines will borrow $800 million, or over ₱45 billion, from the World Bank next year for another development policy loan (DPL) that aims to increase clean energy use and enhance water management in the country. In a Sept. 23 project information document (PID), the Washington-based...
Melbourne, Australia—The World Bank Group is helping the Energy Regulatory Commission (ERC) tighten cost controls, primarily for indexation, on firming up a financial model that will make offshore wind projects commercially viable ahead of the 5th green energy auction (GEA-5) that will be...
The World Bank has downgraded the implementation progress of the loan-funded Philippines Digital Infrastructure Project due to delayed budget cover. In a Sept. 22 implementation status and results report, the World Bank assigned a “moderately satisfactory” overall implementation progress rating...
The Marcos Jr. administration will borrow $650 million, or over ₱37 billion, from the World Bank next year to sustain the conditional cash transfers for the Pantawid Pamilyang Pilipino Program (4Ps) and ensure that its youth beneficiaries land jobs. According to a Sept. 20 project information...
The Philippines will repay its latest $700-million (over ₱39-billion) World Bank loan, which is aimed at strengthening community resilience, until 2053. The latest World Bank documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine government, signed the loan agreement...
LONDON, England – The World Bank is gearing up to help countries build safer nuclear power facilities by enhancing their technical capacity and strengthening institutional structures to mitigate project risks. In an exclusive interview on the sidelines of the recently concluded World Nuclear...
The World Bank said its loan-funded Philippine Fisheries and Coastal Resiliency (FishCoRe) Project is making progress even as the Washington-based multilateral lender slightly downgraded the project’s overall implementation ratings. In a Sept. 5 implementation status and results report, the World...
The passage into law of the Konektadong Pinoy Act is seen by the World Bank as a positive development toward digital transformation in the Philippines. In an Aug. 28 implementation status and results report, the Washington-based multilateral lender said the rollout of the Philippines Second Digital...
The World Bank has noted improved implementation of an extended loan that supports breaking down collective certificates of land ownership awards (CLOAs), or titles given to agrarian reform beneficiaries (ARBs) in the Philippines. In an Aug. 21 implementation status and results report seen by...
Real estate giant Ayala Land Inc. (ALI) will be raising ₱10 billion this month from a multilateral sustainability-linked loan as part of the ₱50 billion in funds it will be securing in the second half of the year. In an interview, ALI Chief Finance Officer (CFO) Augusto Bengzon said that ₱30...
