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THE INTERNATIONAL Finance Corp. (IFC), a member of the World Bank Group, has assigned Jean-Marc Arbogast as the new country manager for the Philippines, it said in a statement on Thursday.
WASHINGTON — The World Bank said on Wednesday it has sanctioned a Chinese state electric engineering group and its subsidiary over fraudulent practices in...
THE WORLD BANK has approved a loan worth $88.28 million (P4.3 billion) for the modernization of the Bureau of Customs (BoC), a project which hopes to automate the agency’s processes and lower trade costs.
THE World Bank said it is ready to support the Philippine government with vaccine acquisition once an effective product becomes available.
THE GOVERNMENT may enlist the support of the Asian Development Bank (ADB) and the World Bank to finance a free coronavirus vaccination program next year.
WASHINGTON — US Treasury Secretary Steven Mnuchin on Wednesday urged the International Monetary Fund (IMF) and World Bank to work judiciously within their existing resources to fight the coronavirus pandemic and urged G20 countries to endorse a proposed debt restructuring framework.
BETWEEN 5.3 million and nine million people in East Asia and the Pacific are expected to fall into extreme poverty this year as the coronavirus pandemic wipes out years of poverty reduction gains and creates a group of “new poor,” according to the World Bank.
BERLIN — The COVID-19 pandemic could trigger a debt crisis in some countries, so investors must be ready for granting some form of relief that could also include debt cancellation, World Bank President David Malpass was quoted as saying on Sunday.
THE World Bank approved Wednesday a $600-million (P29 billion) loan to help the country fund its conditional cash transfer program for poor families.
THE Philippines faces the prospect of an “uneven” and “volatile” economic recovery as it struggles to control the coronavirus disease 2019 (COVID-19) pandemic, the World Bank (WB) said after it slashed the country’s gross domestic product (GDP) forecast again this year.
TOKYO — The coronavirus pandemic is expected to lead to the slowest growth in more than 50 years in East Asia and the Pacific...
THE COUNTRY’S anti-graft court has failed to fast-track trials against high-ranking state officials in the past four decades partly due to limitations of the Philippine Ombudsman, according to the World Bank.
A WORLD BANK economist said the Philippines needs to move away from a policy of prioritizing specific crops while focusing on improving the resilience and sustainability of the agriculture sector.
THE World Bank estimated that its board will decide by July 2021 on a $200-million loan sought by the Philippine government to develop the fisheries sector.
THE government signed a $370-million (P18.29 billion) loan agreement with the World Bank to fast-track the process of dividing 1.4 million hectares for distribution to beneficiaries of the Comprehensive Agrarian Reform Program, the Department of Finance (DoF) said.
THE World Bank said the estimated approval date of the $300-million (around P15 billion) loan to support the Agus-Pulangi Hydropower Complex Rehabilitation Project is Sept. 29, 2021.
WASHINGTON — The World Bank and International Monetary Fund will hold their annual Fall Meetings online in October because of the novel coronavirus pandemic, World Bank President David Malpass said in a letter to the Bank’s governors.
THE Philippines remained as a lower-middle income economy, according to the latest data from the World Bank.
THE project period for a Metro Manila wastewater collection and treatment management system is due to expire Tuesday with its main backer, the World Bank, noting that the project has yet to meet targets for the number of people reached, among others.
TIMES are hard — the pandemic is not yet over, the entire world has been upended and has entered what the World Bank called the worst recession since the Second World War as it forecast the global economy to shrink by 5.2% this year — but there is still hope for recovery. The recently launched book Asian Founders at Work seeks to encourage recovery through stories of Asian businesses that weathered storms and found success in their industries.
THE World Bank (WB) said the less immediately obvious consequences of the pandemic include the erosion of human capital as millions lose their jobs as well as the contraction of supply chains as troubled firms withdraw from participating in the global economy.
THE World Bank (WB) on Wednesday approved a $100-million (P5-billion) loan for the Philippine government’s efforts to combat the coronavirus disease 2019 (COVID-19) pandemic.
THE World Bank said low and middle-income countries impacted by conflict and violence, including the Philippines, should invest in institutional reform to preserve any gains made in poverty reduction.
THE PHILIPPINES can make doing business easier for entrepreneurs through one-stop shops as well as by establishing electronic courts to streamline dispute resolution among entrepreneurs, World Bank analysts said on Friday.
DAVAO CITY — The World Bank has committed to add another $280 million fund for the Philippine Rural Development Project (PRDP), Agriculture Secretary William D. Dar announced Saturday.
THE World Bank said it approved a $300 million loan to help fund the Philippines’ conditional cash transfer program for two years.
DESPITE high participation in digitally-enhanced services trade among members of the Association of Southeast Asian Nations (ASEAN) between 2010 and 2016, policies to improve broadband penetration are needed to boost economic growth, especially in the Philippines and Indonesia, according to the World Bank.
LACK OF competition hinders the country from making significant progress in reducing poverty, according to an official from the World Bank.
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THE WORLD BANK cut its economic growth forecast for the Philippines as sustained high inflation, lower infrastructure disbursements next semester due to reenactment of the national budget and continued weakness of global trade offset the lift from spending related to the May 13, 2019 mid-term elections.
Washington -- The World Bank raised Aus$110 million ($80.9 million) in the first-ever blockchain bond offering following investor demand that exceeded expectations, the global...
World Bank said it will ramp up development support to the Bangsamoro region after President Rodrigo R. Duterte signed the Bangsamoro Organic Law (BOL)...
THE WORLD Bank has cited the "satisfactory" progress of the Department of Agriculture's (DA) rural infrastructure projects funded by the Washington-based lender. In its Implementation...
THE PHILIPPINES’ robust economic growth has made a dent on poverty in recent years, such progress pales in comparison to those of neighbors due to low-quality jobs, inequitable access to basic services, and the country’s vulnerability to natural disasters, the World Bank said in a report.
THE WORLD BANK has labelled the poor quality of jobs in the Philippines as the "missing link" to reducing poverty and inequality in the...
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