World Bank set to approve $1B in loans for PH by September
The World Bank is set to approve three new loans worth nearly $1 billion for the Philippines by September to aid in COVID-19 response and recovery efforts.
As of July 24, the World Bank has already provided $1.2 billion in concessional financing since April.
Disbursed loans include a $500 million emergency loan, a $500 million disaster risk management loan, and an additional $200 million for social welfare projects.
World Bank Country Director Ndiame Diop noted total lending to the Philippines from June 2019 to June 2020 was $1.9 billion.
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