PH signs $100-M WB loan for COVID-19 emergency project

The Philippines signed a $100 million loan agreement with the World Bank for the Covid-19 Emergency Response Project, aimed at strengthening the country's capacity to prevent, detect, and respond to the pandemic.

The project will support procurement of medical equipment, supplies, and isolation facilities, and expand laboratory capacity across the nation.

Implementation is expected to begin in early May with no counterpart funding required from the Philippine government.

Additionally, the World Bank Board is set to act on a proposed $500 million loan for further coronavirus response measures.