IFC Helps Philippines Seal Electricity Pact

The International Finance Corporation rendered advisory support to help the Philippine government close an agreement with a private firm to provide electricity in the remote areas of the country’s Basilan province. The accord also allows for the reduction of subsidies and financial rehabilitation of the country’s National Power Corporation. (“World Bank unit brokers deal to provide electricity in Basilan” - Gmanews.tv, Sept. 1, 2008)

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