Philippines appeals for follow-up funding

The Philippines has called on multilateral donors to finance the second tranche of its development policy loan, an initiative seeking to promote better fiscal policy, institutional reforms in the revenue collecting agencies, and public expenditure management. The request seeks to follow through on the USD500 million budgetary package from the World Bank and the Asian Development Bank last year. The government has appealed to the Japan Bank for International Cooperation and the two lenders to collectively furnish USD600 million this year. “We’re now assessing the performance of the first DPL. By February or March, we should know the lenders’ firm commitment,” said a government official. (Source: RP eyes USD600M in policy dev?t loans/Philippine Daily Inquirer)

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