MANILA – The World Bank has committed another $1.9 billion in projects in the Philippines to help and support projects that will help the economy bounce back from the impact of Covid-19 pandemic. According to the Department of Finance (DOF), the $1.9 billion-worth of “redesigned” World Bank-funded projects are expected to be approved before the year end to help the …

The World Bank has raised the status of Indonesia from a middle-income country to an upper-middle income country. The increase in status was granted after based on the latest World Bank assessment, the Gross National Income (GNI) per capita of Indonesia in 2019 rose to USD4,050 from the previous position of USD3,840. Rahayu Puspasari, Head of the Ministry of Finance’s …

MANILA – The World Bank has approved a $500 million (P22 billion) loan to help the Philippines ease the impact of the Covid-19 pandemic. The World Bank said on Friday, that the fund approved will help the poor and vurnerable household and will support small and medium enterprises by providing financial assistance. The Philippines Emergency Covid-19 Response Development Policy Loan …