Following the destructive typhoons that hit the Philippines, the national government is gearing up to tap half a billion dollars in climate funding from the Washington-based World Bank. According to the Department of Finance’s (DOF) Facebook post on Thursday, Nov. 20, the national government is...
The Securities and Exchange Commission (SEC) is pushing for reforms to strengthen the Philippine corporate bond market and broaden capital market access for small and medium enterprises (SMEs), with strategic engagement from the World Bank Group (WBG) and its private-sector lending arm,...
The Department of Education (DepEd) on Wednesday, November 5, announced that it will spearhead a major nationwide reform to accelerate learning recovery and empower local schools, following President Ferdinand R. Marcos Jr.’s approval of the Project for Learning Upgrade Support and...
The Department of Public Works and Highways (DPWH) and the World Bank will start construction of the ₱37-billion Mindanao Transport Connectivity Improvement Project (MTCIP) in 2027 for safer transport and better access across key areas of Mindanao. The project will follow a 22-month design phase...
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...
