Filipinos will repay another World Bank loan until 2053, after the Marcos administration's chief economic manager signed the agreement for the Philippines first energy transition and climate resilience development policy loan (DPL). On behalf of the Philippine government, Finance Secretary Ralph G....
The Marcos administration's chief economic manager has signed another loan agreement with the World Bank, committing to repay the concessional financing until 2053. A World Bank document showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine government, signed the loan agreement...
Liberalized rice trade in the Philippines not only pulled prices down but also benefited farmers as well as the poor, according to the World Bank. The World Bank deems short-term subsidies—like the so-called "NFA rice" of the past—as ineffective in lifting the food-poor from their plight, as...
Amid escalating global trade uncertainty driven by tariffs, achieving upper-middle-income status may become more challenging for the Philippines in 2025 and 2026, delaying it further to later years, according to a World Bank economist. Gonzalo Varela, World Bank lead economist and program leader...
The Philippine government will shell out $7.4 billion, or about ₱415.9 billion, to co-finance with the World Bank an upcoming program aimed at making domestic agriculture sustainable. An appraisal program information document of the World Bank, dated April 24, said the Department of Agriculture's...
The Philippines has urged international financial institutions (IFIs) to increase their assistance to emerging markets and developing economies (EMDEs) amid escalating global challenges and risks. “International financial institutions, such as the World Bank and the International Monetary Fund...
Amid a looming global trade war, the World Bank slashed its 2025 and 2026 growth forecasts for the Philippines to levels that would bring two-year economic expansion to their slowest pace post-pandemic. According to the Washington-based multilateral lender’s East Asia and Pacific Economic Update...
While the Philippines has made strides in reducing poverty, uncertainties wrought by the looming global trade war may reverse some gains, according to the World Bank. "Employment indicators suggest continued poverty reduction since 2023. The unemployment rate fell to 3.8 percent in 2024 (from 4.4...
The World Bank believes that an additional 5.1 million jobs can be created in the Philippines during the next 15 years if the country fast-tracks reforms conducive to labor market growth and enhancement. In an April 18 brief, the Washington-based multilateral lender said that an upcoming Country...
The World Bank would greenlight a $700-million (over ₱40-billion) loan for the Philippines in July, aimed at making local communities more resilient to natural disasters. According to a World Bank appraisal project information document dated April 8, the objective of the upcoming Philippines...
The Philippines will repay until 2053 two of the four loans greenlit by the Washington-based World Bank last month, worth a total of $950.54 million or about ₱54.6 billion, that will finance health services and transport connectivity in Mindanao and other poor provinces in the country. World...
The Washington-based multilateral lender World Bank has approved an $800-million, or approximately ₱45.8-billion, loan to support the Philippines’ transition to clean energy and improve water management. This fresh loan for the Philippines brought to a total of close to $1.82 billion, or about...
