World Bank grants P5B loan to DOH for COVID-19 response

The World Bank is providing a $100 million fast-track loan to the Department of Health (DOH) to aid in the Philippines' response to the COVID-19 pandemic.

This funding will be used by the DOH to acquire essential medical supplies such as personal protective equipment (PPE), testing kits, and materials for quarantine and isolation facilities.

The Department of Finance (DOF) stated that the funds could be disbursed to the DOH within weeks, following discussions between a DOF team and the World Bank's Acting Country Director.

As of the publication date, the Philippines had 193 confirmed cases of COVID-19, with 14 deaths and 7 recoveries.

The World Bank has committed an initial $12 billion globally to help countries manage the health and economic consequences of the COVID-19 outbreak.