In a statement over the weekend, the World Bank said its board of executive directors approved $500 million in funding for the Infrastructure for Safer and Resilient Schools Project and the $750-million Philippines Second Sustainable Recovery Development Policy Loan.
The Infrastructure for Safer and Resilient Schools Project aims to support the resilient recovery of schools affected by disasters in the country. “By strengthening the resilience of educational facilities, disruptions to learning caused by natural disasters can be minimized, ensuring that children can continue their education with fewer interruptions,” World Bank senior disaster risk management specialist Fernando Ramirez Cortes said.
“The Philippine economy remains resilient in the face of ongoing global and domestic challenges. The reforms supported by this lending program, if implemented, will encourage private investment, innovation and sustained growth,” World Bank senior economist Ralph Van Doorn said. Headline inflation may still fall within the two to four percent target of the Bangko Sentral ng Pilipinas in June amid...
E-wallet leader GCash is introducing a new set of app upgrades and financial services within the next 12 months, including...