World Bank approves $100M loan for PH COVID-19 response

The World Bank has approved a $100 million loan to support the Philippine government's emergency response to the COVID-19 pandemic, focusing on strengthening the healthcare system.

The loan will be utilized by the Department of Health (DOH) to enhance its essential healthcare delivery system and procure critical medical supplies.

Funds will be used to acquire personal protective equipment (PPE), essential medicines, and intensive care unit equipment such as ventilators and X-ray machines.

The project also aims to improve logistics and supply chains to ensure timely delivery of medical equipment to frontline health facilities.

Guidance for hospital isolation and treatment centers for Severe Acute Respiratory Infection (SARI) patients will be developed to standardize COVID-19 healthcare services.

The loan will also expand the country's laboratory capacity for infectious disease prevention and preparedness, including retrofitting existing labs and building new ones.

This initiative is part of the World Bank Group's broader efforts to assist developing countries in their COVID-19 response and recovery.

Earlier in April, the World Bank provided $500 million to bolster the Philippines' disaster risk management and health crisis response.

Tarlac Rep. Victor Yap highlighted that the Philippines' high credit ratings will be advantageous in securing necessary liquidity and debt to support its economy amid the global pandemic.

The country currently holds investment grade credit ratings from major firms like Fitch Ratings, Moody's, and S&P Global Ratings.