The World Bank has bared plans to participate in the country’s infrastructure buildup program, specifically railway projects, the Department of Finance (DOF) said on Thursday.
Finance Undersecretary Gil S. Beltran told financial reporters that the DOF will discuss the matter at the 2018 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) from April 18 to 21 in Washington, D.C. The World Bank is keen on how it can better participate in the country’s infrastructure program.
“Of course we will meet the WB team that handles their lending here in the Philippines. They want to participate more actively in our infrastructure projects. Last year they said they can handle railway [projects],” said Beltran, who attended the Spring Meetings.
He explained that the DOF’s International Finance Group will provide a list of possible projects to interested financial institutions for possible financing or partnership.
“We usually give them the list of all possible projects, then they choose which one they want to participate in. It depends upon the expertise they have, but they can handle many of the things we are doing. They have experts,” he said.
The IMF/WBG Spring Meetings is a venue for central bankers and ministers of finance, as well as development agencies, private-sector executives and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development and aid effectiveness.
Budget Secretary Benjamin E. Diokno represents the Philippines in the meetings, alongside senior officials of key government agencies.
As head of delegation, Diokno attended four key events on the first day of the annual gathering in Washington, D.C.
He outlined the budgetary priorities of the Duterte administration, specifically the thrust for public infrastructure and human capital development, before the SAIS-Asia Foundation and the US-Philippines Society.