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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

World Bank Approves $1.25 Bln Loans for Philippines


Sun 30 Jun 2024 | 07:00 PM
Israa Farhan

The World Bank announced today, Saturday, that its Executive Board has approved $1.25 billion in loans aimed at the Philippines' education and public infrastructure sectors.

According to a statement from the World Bank reported by Channel News Asia, the bank will provide a $500 million loan for a Philippine project aimed at repairing schools damaged by disasters in provinces and enhancing their operational capacity post-disaster.

Additionally, the World Bank has also approved a $750 million loan to support reforms aimed at increasing investment in public infrastructure and boosting renewable energy.