A couple of projects being financed by the World Bank (WB) progressed in recent months while the Department of Finance on Wednesday said foreign borrowings remained prudent and supportive of economic recovery.
While earlier World Bank and Asian Infrastructure Investment Bank (AIIB) reports lamented delays in the Metro Manila flood management project at the height of stringent COVID-19 lockdowns last year, the Washington-based lender’s latest implementation status and results report showed rollout was now “moderately satisfactory”—an improvement from “moderately unsatisfactory” previously.
The World Bank, the AIIB and the Philippine government have been cofinancing the $500-millio…
Keep on reading: Progress of WB-funded projects picks up pace