The World Bank has approved a fresh $600 million loan that aims to support the Philippines’ economic recovery from the coronavirus pandemic. In a statement, the Washington-based multilateral institution said it approved the financing for the government’s reform program to position the country...
The World Bank said the Philippines is facing weaker long-term growth due to lower capital investment as well as loss of human and intangible capital. Without mitigation measures, the Washington-based multilateral institution warned that the country’s long-term growth potential will be only at...
The Department of Agriculture's (DA) Philippine Rural Development Project (PRDP), the largest World Bank-funded project in the country, has been extended up to July 2025 and has received additional foreign funds of about P16 billion. In a statement, DA said the project got additional funding came...
Former senator and incumbent Sorsogon Governor Francis “Chiz” Escudero on Sunday urged the government to address the lack of internet access or connectivity in the country which is significantly hindering students’ learning ability during this time of a COVID-19 pandemic. With no end in sight...
The Department of Education (DepEd) on Wednesday, Nov. 24, said that it acknowledges the challenges in education quality of the country even before the pandemic and is currently addressing these by introducing various interventions. Photo taken at Palma Gil Integrated School PGIS in Talaingod,...
The Philippines has secured fresh contingent funds from the World Bank to strengthen the country's institutional and financial capacity in managing risks from disasters and disease outbreaks. In a statement, the Washington-based multilateral institution said on Thursday, Nov. 18, that it earmarked...
Sustainable properties have the perception of being expensive, exclusive, and out of reach for ordinary people. EDGE certification, an innovation of the International Finance Corporation (IFC), a member of the World Bank Group, is seeking to change that by simplifying the certification process with...
The International Finance Corp. (IFC) is investing in a social bond to be issued by Ayala Corp.’s foreign subsidiary that will fund the development of an integrated health ecosystem in the country. The IFC, a member of the World Bank Group, said on Thursday, Nov. 11, that it invests $100 million...
Finance Secretary Carlos G. Dominguez III said the support extended by multilateral institutions to the clean energy transition projects of developing economies is crucial to encourage the flow of private sector capital into these initiatives. Dominguez said the meticulous planning and vetting done...
Opposition Rep. Ferdinand Gaite (Bayan Muna Partylist) on Tuesday, Nov. 2 called on the Duterte administration to repeal the automatic debt servicing law that the late former President Ferdinand E. Marcos has decreed. Rep. Ferdinand Gaite-Bayan Muna Gaite said government should realize that...
The Department of Agriculture (DA) is close to securing the approval for the Fisheries and Coastal Resiliency (FishCoRe), a P10-billion project to be funded by World Bank. The project, which will run for seven years, is the first World Bank project to be implemented with the Bureau of Fisheries and...
Not even half of the coronavirus vaccine doses funded by the World Bank have arrived in the Philippines, the Washington-based multilateral institution reported on Tuesday, Oct. 19. In a statement, Ndiame Diop, World Bank country director for the Philippines said only 4.73 million doses of vaccines...
