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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
July 4, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

World Bank approves $600 mln funding for Philippine reforms

December 11, 2021By Reuters
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MANILA, Dec 11 (Reuters) – The World Bank has approved a $600 million loan for a Philippine reform programme to position the Southeast Asian country for a competitive and resilient economic recovery, the bank said on Saturday.

The quick-disbursing loan backs measures to free up retail services and promote private investment, cut the cost of doing business, and expand broadband services to boost investments in information and communications technology, the lender added.

Such reforms are crucial to level immediate and long-term barriers to growth, said Ndiamé Diop, the bank’s country director for Brunei, Malaysia, the Philippines and Thailand.

“Reforms that promote competition in broadband and mobile telecommunications will benefit a large portion of underserved populations by increasing coverage and quality of service, increasing their access to markets, as well as access to remote education and health services,” Diop said in a statement.

Reforms that lower trade costs and improve the business environment will benefit all firms but especially small and medium enterprises, by opening the way to a larger market, Diop added.

The Philippines lags peers in east Asia and the Pacific in direct foreign investment into areas such as retail, the bank said, adding that reforms to the sector could draw investment by levelling the playing field for domestic and foreign operators.

(Reporting by Enrico Dela Cruz; Editing by Clarence Fernandez)

((enrico.delacruz@tr.com;))

This article originally appeared on reuters.com

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