WB extending $100M loan for PH COVID-19 response

The World Bank (WB) is extending a $100 million loan to the Philippines through its fast-track COVID-19 facility to support the Department of Health's efforts in combating the pandemic.

The funds will be used for personal protective equipment, testing materials and equipment, subnational lab equipment, isolation rooms, and quarantine areas.

Finance Undersecretary Mark Dennis Y.C. Joven led a meeting with WB Acting Country Director Achim Fock to discuss immediate needs and ensure the loan is responsive to these requirements.

The DOF stated that the funds will be available to the DOH within weeks.