The Philippine government is seeking some $1.48 billion in loans and grants from the World Bank to bankroll its social programs and infrastructure projects.
Data obtained from the National Economic and Development Authority (Neda) showed that these loans and grants are currently under consideration by the global lender for fiscal year 2016, which began on July 1.
The lion’s share of the loans and grants will be used to finance the $450-million-worth National Program Support for Social Production Project, which aims to support the country’s Conditional Cash-Transfer (CCT) Program.
The project also aims to provide training and skills development for poor and vulnerable households, as well as programs that will help young Filipinos complete their education and land jobs.
Another loan will finance the Philippines Cross-Sectoral Health Enhancement Program. The Neda estimated that the project will need more than $300 million.
The project aims to design and implement a nationwide multi-sector program for enhancing population health through disease prevention, health promotion and better access to quality primary health-care services.
Other projects to be processed in FY 2016 of the World Bank are the $300-million Greater Metro Manila Area Flood Management Program-Phase 1 and the $300-million Development Policy Loan (DPL) 4.
Phase 1 of the Greater Metro Manila Area Flood Management Program aims to improve the living conditions of informal settler-families in the Greater Metro Manila Area waterways/drainage channels.
The project will also introduce community-based solid-waste management and support the P50-billion ISF Housing Program implemented by the national government.
DPL 4, on the other hand, is targeting to help the national government increase public infrastructure investment to 5 percent of gross domestic product annually and improve spending on public investments.
The Neda data also showed that the government proposed the Program on Economic Growth through Agribusiness Cooperation and Entrepreneurship for funding by the World Bank.
While the data did provide the exact amount for the loan for the project, the Neda said a possible $100 million to $125 million worth of grants may be obtained from the global lender for the project.
The proposed project aims to establish a financing facility for small, medium and large agribusiness enterprises in Bangsamoro areas that are faced with various challenges such as inadequate
infrastructure, as well as peace and order problems.
4 comments
Paano at sino ang magbabayad ng UTANG na yan sa ADB – WB, $1.5 billion? Tulad ng GREECE, lubog na sa UTANG ang Pilipinas..bangkarote at automatic appropriation (30%), PAMBAYAD na lamang sa UTANG napupunta ang ating budget.
EMPLOYMENT at trabaho ang kailangan ng mga Pilipino hindi DOLEOUT at paikot-ikot at paulit-ulit na DOLEOUT lamang…ang $1.5 billion pautang na yan ay DAPAT MAPUNTA sa EMPLOYMENT GENERATION hindi sa doleout..
Sana, Hopefully, maawa (may mercy) ang ADB sa PILIPINAS at huwag na tayong pautangin..
Hahaha. Does your countrymen know that the IMF/WB is largely owned by the people of the Philippines? So essentially the Philippine government which is a technically a corporation is borrowing money from Filipinos themselves. The bigger question is how Greece can pay it’s loans to the IMF which the Filipinos largely own.
how do you know that IMF/WB is owned by the poeple of the philippines? can you please cite your sources
i’m also curious about that statement… that IMF is largely owned by Filipinos.