The Philippines provides a great example of a government addressing digital ecosystem gaps – strengthening the foundational ID, digital data governance, and digital payments systems.
By Reuters Staff
2 Min Read
MANILA, Dec 17 (Reuters) - The World Bank said on Thursday its board had approved two projects worth $900 million to support the Philippines’ efforts to recover from the COVID-19 pandemic, improve competitiveness, and build resilience against shocks and natural disasters.
The first is a $600-million Promoting Competitiveness and Enhancing Resilience to Natural Disasters Development Policy Loan, which will support reforms to improve digital infrastructure, including a national ID project.
The second is $300-million funding for projects involving basic social services such as COVID-19 isolation facilities, improvements in water and sanitation, and construction of health stations, the bank said in a statement.
3:48 PM MYT
A boy wears a face mask as he sells bags in the shopping district of Divisoria, in Manila. Many Filipinos flock to this area to buy cheaper goods as they prepare for Christmas holidays in this predominantly Roman Catholic nation amid government health restrictions to help curb the spread of the coronavirus. - AP MANILA, Dec 19 (Reuters) - The World Bank has announced this week that its board had approved two projects worth US$900 million to support the Philippines efforts to recover from the Covid-19 pandemic, improve competitiveness, and build resilience against shocks and natural disasters.
The first is a US$600 million Promoting Competitiveness and Enhancing Resilience to Natural Disasters Development Policy Loan, which will support reforms to improve digital infrastructure, including a national ID project.
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17 Dec 2020 12:51PM (Updated:
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MANILA: The World Bank said on Thursday (Dec 17) its board had approved two projects worth US$900 million to support the Philippines efforts to recover from the COVID-19 pandemic, improve competitiveness, and build resilience against shocks and natural disasters.
The first is a US$600 million Promoting Competitiveness and Enhancing Resilience to Natural Disasters Development Policy Loan, which will support reforms to improve digital infrastructure, including a national ID project.
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The second is US$300 million funding for projects involving basic social services such as COVID-19 isolation facilities, improvements in water and sanitation, and construction of health stations, the bank said in a statement.
By TED CORDERO, GMA News
Published December 17, 2020 11:30am Washington-based multilateral lender Word Bank on Thursday announced that it has approved a total of $900-million loan financing to the Philippines for two projects in support of the government’s efforts to recover from the COVID-19 pandemic. In a statement, the WB said the first is a $600-million project “Promoting Competitiveness and Enhancing Resilience to Natural Disasters Development Policy Loan.” Particularly, the loan will support transformational reforms to hasten the adoption of digital technologies, promote greater competition, and reduce the costs of doing business to revive more economic activities and jobs in the country, according to lender.