World Bank provides loans to support economic recovery in Philippines

The Philippines and the World Bank (WB) signed several loan agreements amounting to 1.14 billion U.S. dollars to finance various government initiatives aimed at accelerating economic recovery.

Philippine Finance Secretary Benjamin Diokno and World Bank Country Director for the Philippines Ndiamé Diop signed the loan agreements.

The World Bank, as a major multilateral lender, is the Philippines' third-largest official development assistance partner.