Another $200-million loan will be extended by the World Bank to the Philippines next year to promote financial inclusion while the economy recovers from the COVID-19 pandemic-induced recession.
Documents showed that the Washington-based multilateral lender’s board was scheduled to tackle the Department of Finance’s (DOF) Philippines First Financial Sector Reform Development Policy Financing in July 2021.The loan will “support financial sector reforms that will support the government of the Philippines in achieving a resilient, inclusive and sustainable financial sector,” the World Bank said.
The financing will also allow “green” recovery from COVID-19, it added.
Specifically, th…
Keep on reading: PH eyes $200-M World Bank loan for financial sector reform plans