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World Bank approves $900M in loans to aid PH economic recovery, address poverty
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Metro Manila (CNN Philippines, December 17) The World Bank is extending more loans to the Philippines to help it become more resilient to natural disasters and address poverty in affected communities.
Announcing details on Thursday, the Washington-based lender said the first loan, worth $600 million (about ₱28.8 billion) shall support reforms aiming to speed up the adoption of digital technologies, encourage greater competition, and trim the costs of doing business in the country.
This is envisioned to aid the recovery of micro, small and medium enterprises gravely hit by the pandemic, help Filipinos deal with health protocols like social distancing and improve the delivery of social assistance to the most disadvantaged groups.
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World Bank approves $900M more in loans for PH inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.