The World Bank has granted over P63 billion in loans to the Philippines to finance various government initiatives of the Marcos administration, the Department of Finance (DOF) announced. | ManilaBulletin READ:
On Monday, June 26, Finance Secretary Benjamin E. Diokno and World Bank Philippines Country Director Ndiamé Diop signed four loan agreements with a total amount of $1.14 billion, equivalent to around P63.59 billion.
Specifically, the loan will fund the Mindanao Inclusive Agriculture Development Project and the Philippine Fisheries and Coastal Resiliency Project. To improve the quality of education, a $110 million loan agreement was also signed for the Department of Education’s Teacher Effectiveness and Competencies Enhancement Project .
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