Philippines, World Bank agree to speed up development financing process
The lender’s Philippine portfolio includes 21 active IBRD operations valued at US$8.73 billion, according to end-August figures.
Philippine development projects could see faster financing procedures under an agreement between the Department of Finance (DOF) and the World Bank to work together on processing, the DOF said.
The bank’s Philippine portfolio was discussed by Finance Secretary Frederick Go and Anna Bjerde, the World Bank’s managing director of operations, at a meeting in Bangkok, Thailand. Their talks covered proposed development policy operations as well as catastrophe deferred drawdown options, according to the DOF.
The discussions took place alongside the 2026 International Monetary Fund-World Bank Annual Meetings. Other Philippine participants included Kim Robert de Leon, acting budget secretary, and Joseph Capuno, an undersecretary at the Department of Economy, Planning and Development (DEPDev).
World Bank website figures put the International Bank for Reconstruction and Development’s active Philippine operations at 21 as of end-August, with a value of US$8.73 billion spanning 12 sectors. Its trust fund portfolio had US$98 million in 113 active grants covering knowledge, technical assistance and implementation support.
Separately, DEPDev’s review of the official development assistance portfolio recorded World Bank support for 31 projects valued at US$8.5 billion in 2025.
