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WB plans over 3 bln USD in financing for Philippines

The multilateral lender is also considering structural reform initiatives as well as projects that could help the Government respond to the economic fallout from the Middle East conflict, particularly among vulnerable sectors.

Hanoi (VNA) - The World Bank (WB) is looking to line up more than 3 billion USD in potential financing for the Philippines in the next fiscal year, with projects focused on social protection, skills development, government modernisation and structural reform

Zafer Mustafaoğlu, the WB’s Division Director for the Philippines, told the press on June 7 that the lender is already preparing a pipeline of programmes for its fiscal year 2027, which runs from July 1, 2026 to June 30, 2027.

The multilateral lender is also considering structural reform initiatives as well as projects that could help the Government respond to the economic fallout from the Middle East conflict, particularly among vulnerable sectors, he said, adding that it is holding discussions with the Philippine Government as Manila reviews its priorities under its borrowing agenda.

Under the WB Group (WBG) Country Partnership Framework for the Philippines for 2025–2031, the primary goal is to improve the quality of life of the Filipino people by expanding development opportunities and strengthening resilience to economic, social, and climate-related shocks.

The framework focuses on poverty reduction, education, healthcare, job creation, resilience building, digital connectivity, and private sector investment./.

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VNA
#Middle East conflict #Philippine Government Philippines
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