World Bank Approves Loans for Philippines, Dominican Republic Social Sector

The World Bank has approved USD405 million in loan to help strengthen social protection in the Philippines. The sum will finance a project that aims to develop the capacity of the Department of Social Welfare and Development, establish a household targeting program for the poor, improve the focus of social protection programs, and support a new conditional cash transfer program.

The Washington-based agency is also lending a total of USD300 million to the Dominican Republic. The loans will support social sector reforms, particularly in social protection, health and education. A portion of the sum will also be used to develop the quality and efficiency of the country's public finance.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.