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World Bank approves $900 million in loans for PH pandemic response Dec 17, 2020 1:45 PM PHT The World Bank on Thursday, December 17, approved two loans amounting to $900 million (around P43.2 billion) for the Philippines' pandemic response and resilience-building for natural disasters. The $600 million (P28.8 billion) under the Promoting Competitiveness and Enhancing Resilience to Natural Disasters Development Policy Loan will support "reforms to hasten the adoption of digital technologies, promote greater competition, and reduce the costs of doing business." The funds would be for expanding ...

Published December 17, 2020, 11:01 AM The World Bank has approved two loans to the Philippines to support the country’s recovery efforts from the coronavirus pandemic, improve competitiveness, as well as build resilience against shocks and natural disasters. In a statement, the Washington-based lender, said it approved $900 million worth of loans to the Philippines for the government’s programs in addressing poverty in poor rural communities and improving resiliency against natural disasters. The first is a $600 million Promoting Competitiveness and Enhancing Resilience to Natural Disaste...