World Bank Plans 2011 Aid Hike for Philippines

The metro railway transit station in Guadulupe, Makati City, Philippines. The World Bank is studying the possibility of participating in public-private partnership schemes eyed by the Philippine government, such as the expansion of the country's light rail transit systems. Photo by: Mike Gonzalez

The World Bank is looking to double its assistance to the Philippines in 2011, according to the bank’s leading official for the Asian country.

The Philippines can expect at least USD1.3 billion and as much as USD1.5 billion in World Bank support next year, or at least twice the USD650 million approved by the global lender for the country in 2010, Bert Hofman, World Bank country director for the Philippines, told the Philippine Star.

Hofman said the decision was taken during the annual meeting between the World Bank, International Monetary Fund and the Philippine economic team held in Washington two weeks ago.

“We agreed basically on an increased envelope,” Hofman said to the Philippine Star. “The government has started a lot of initiatives that we believe are good for poverty alleviation and making growth work for the poor.”

He noted efforts by the government of Philippine President Benigno Aquino III in promoting transparency in governance, saying that “transparency makes us more comfortable about the use of our money.”

The bank, Hofman said, is considering the possibility of participating in public-private sector partnerships being pursued by the Aquino administration, such as the expansion of the light rail transit network and improvement of the sewage system in Metro Manila, the country’s business and political center.

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  • Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.