WB reiterates support for PH devt priorities

THE World Bank remains committed to supporting the Philippines’ bid to become a prosperous and inclusive society by 2040, a senior official of the Washington-based multilateral organization said.

“The post-pandemic recovery is underway in the Philippines, with strong domestic demand weathering global headwinds,” World Bank Managing Director for Operations Anna Bjerde said on Tuesday at the end of a two-day visit to the Philippines.

“The World Bank is committed to supporting the Philippines to achieve long-term inclusive and sustainable growth, attain uppermiddle-income country status and eventually become a predominantly middle-class society by 2040,” she added.

In particular, protecting the poor and the most vulnerable from disasters will be one of the multilateral organization’s priorities for the Philippines as the country is particularly at risk from climate change.

Bjerde, who was accompanied by World Bank Vice President for East Asia and Pacific Manuela Ferro and Country Director Ndiame Diop, met with economic managers and other Cabinet and government officials, and also with representatives from the corporate sector.

The Finance department said a meeting in Malacañang on Monday with Cabinet officials served to align the World Bank’s priorities with the Philippines’

development agenda.

Present during the meeting were Finance Secretary Benjamin Diokno, Socioeconomic Planning Secretary Arsenio Balisacan, Budget Secretary Amenah Pangandaman, Transportation Secretary Jaime Bautista, Energy Secretary Raphael Lotilla, Public Works Secretary Manuel Bonoan and Press Secretary Cheloy Garafil.

“The WB noted the opportunities for the Philippines to further boost investments and long-term growth given its young and skilled labor force and sound macroeconomic policies,” the Finance department said in a statement.

Programs discussed included the Teacher Effectiveness and Competencies Enhancement Project and the Philippine Rural Development Project (PRDP) Scale-Up.

The former aims to improve the quality of and access to teaching for kindergarten to sixth grade in the Bangsamoro Autonomous Region in Muslim Mindanao, Zamboanga Peninsula and Soccskargen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos), while the latter seeks to build from the initial PRDP to further improve farmer and fisherfolk access to markets and increase their incomes.

A day earlier, Bjerde met with Diokno and Finance Undersecretary Mark Y.C. Joven to discuss a continuing partnership for agriculture, food security, health, education, renewable energy and climate finance projects.

The World Bank’s-International Bank for Reconstruction and Development is the Philippines’ third-largest official development assistance (ODA) partner, with active loans and grants amounting to around $6.8 billion or 21.2 percent of the country’s total ODA.

Bjerde’s trip to Manila included a visit to the National Disaster Emergency Operations Center of the Office of Civil Defense, which houses the country’s Geo-risk and Hazard Information Management System.

She said that climate shocks, whether in the form of strong typhoons or slow-onset trends like higher temperatures and biodiversity loss, among others, would hamper economic activities, damage infrastructure, and hurt the poor and vulnerable most.

“We welcome opportunities to support the country’s climate adaptation and mitigation programs to help address these challenges,” Bjerde added.

In a meeting with representatives from the business sector, the World Bank official sought their views on the local business environment, enabling the digital economy, potentials for expanding renewable energy and reforms needed in the education sector.

The World Bank has provided assistance to the Philippines for nearly 75 years. Over the last decade, the aid has focused on enhancing inclusive growth through reforms.

This included accelerating job creation and social protection initiatives such as the Pantawid Pamilyang Pilipino Program, rural development, disaster risk reduction and human capital development through increased support to the health and education sectors.

During the Covid-19 pandemic, the World Bank was a major supporter in the purchase and distribution of vaccines and working to ensure the flow of critical medical supplies and equipment, as well as helping the private sector continue to operate and sustain jobs.