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Donors Back Philippine Social, Fiscal Management Schemes

By Ma. Rizza Leonzon on 08 February 2010

A total of USD655 million in donor financing will be made available to support social welfare and fiscal consolidation projects in the Philippines. Of the sum, USD150 million will be provided by the Japan International Cooperation Agency and another USD100 million will be released by the Asian Development Bank to bolster the government’s fiscal stance and creditworthiness. The World Bank will chip in the remaining USD405 million for a conditional cash transfer program benefiting poor households, according to Reuters.

Ma. Rizza Leonzon
As a staff writer, Rizza focuses mainly on business coverage, including key donors such as the Asian Development Bank and AusAID. She covers breaking business news particularly at the ADB and has conducted interviews with specialists from the Inter-American Development Bank, World Bank and other top players in international development. Rizza also contributes to the daily Development Newswire and other Devex publications.