Three forthcoming loans to be extended by the World Bank to the Philippines totaling $810 million will aid in pandemic recovery and building resilience against natural disasters as well as improving the education sector. | bendeveraINQ
The World Bank loan aimed to mitigate these challenges to recovery, specifically by: lowering trade cost and ease of doing business; expanding fixed broadband infrastructure; assisting rice farmers to become more productive; opening the retail sector to foreign investment; enhancing fiscal, social, and financial resilience to shocks through simplifying tax incentives; strengthening risk management of payment systems; scaling the national ID registration system; and improving the financial risk...
“The macroeconomic risk is substantial given the risk of a prolonged COVID-19 outbreak that may result in a deeper recession, pushing more people into poverty, and diverting attention away from structural and long-term reforms, which may affect the achievement of the project development objectives.
Also, the World Bank pointed to “limited improvement in national and international student assessments results” such as DepEd-administered national achievement test as well as the Organization for Economic Cooperation and Development’s Program for International Student Assessment in 2018 and the Trends in International Mathematics and Science Study in 2019.
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