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.