Quantcast
Latest Stories

WB exec prods gov’t on need to create jobs

By

High unemployment and poverty levels remain the main challenges facing the Aquino administration, whose success in stabilizing macroeconomic conditions has failed to translate to a significant improvement in the lives of millions of Filipinos.

World Bank vice president for East Asia and the Pacific Axel van Trotsenburg this week affirmed the multilateral lender’s long-term commitment to provide financial and advisory support to help the administration achieve the elusive goal of inclusive growth.

Yesterday, the World Bank announced the transfer of $300 million in budget support under its development policy loan to accelerate government reforms that aim to accelerate growth, create jobs and reduce poverty.

“Unfortunately, job (creation) is one of the difficult challenges everywhere in the world. What we are seeing is that this requires the constant attention of every government,” van Trotsenburg told reporters at a press conference. “The challenge everywhere is to provide good-paying jobs. This is an enormously difficult thing.” Van Trotsenburg is in the Philippines for   a visit this week.

Latest government data showed the country’s unemployment rate jumped to 7.5 percent last April from 6.9 percent a year ago. This came even after the Philippine economy in the first quarter grew by 7.8 percent—outpacing Asia’s perennial growth driver, China.

Van Trotsenburg said the World Bank would continue to provide financial and advisory support for the Philippines especially in conflict-torn Mindanao, where development aid was most needed.

He added that the bank was crafting a new assistance strategy for the Philippines that would include plans to fund the CCT program. Based on the bank’s experience in Brazil and other Latin American countries, CCT programs, if implemented correctly, played a vital role in reducing poverty.

He said funding would also be made available to strengthen the implementation of the K-12 education and universal healthcare programs, the construction of basic infrastructure such as roads and airports, and for the development of schemes to protect poor families from the impact of climate change.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Government , Poverty , unemployment , World Bank

  • Guest

    AYAN NA ANG GLOBAL FINANCIAL ELITE AT CRIMINAL BANKERS KASAMA NA ANG IMF WORLD BANK AT WALL STREET para pautangin tayo NG FIAT MONEY NILA NA WALANG GOLD BACKING.sabay manipula ng ekonomiya
    paglaruan ang stock market, utUsan ang central bank natin, Kontrolin ang mga resources AT INDUSTRIES NATIN . , may angal kaba pinoy kung may utang ka…
    NABALITAAN LANG NILA NA MAY 80 BILLION DOLLARS WORTH OF GOLD SA ISANG CAMPO SA NUEVA ECIJA KAYA NAGLALAWAY NA NAG MGA BUWAYANG IYAN .Kaya natin to wag lang tayong magpapasuhol sa lobby ng criminal bankers at global financial elite.
    Parisan natin ang ICELAND. Pinatalsik nila ang mga greedy wall street bankers at IMF at World Bank. Tignan mo ang CYPRUS ubos na ang pera ng government nila kinaltasan pa ng percentage ang mga deposito at ipon ng mamamyan nito.
    ANOBAKAYO! MULAT NYO NAMAN ANG MATA NYO MGA PINOY FINANCIAL ANALYST ……GUSTO NYO PABANG MANGYARI SA ATIN ITO…………………………SATIN (SIPAG AT TIYAGA INITIATIVE)

  • Ako_Hiking

    When will Aquino start listening and paying attention to the problems that are plaguing the nation. Just because he is a rich and powerful President and is able to enjoy his Palace does not mean that the Philippines is great and amazing. It’s more fun in the Philippines if you are rich but not so much fun if you are the million and million who are either poverty stricken or unemployed.

  • tilney

    Govt should provide technical training programs similar to TESDA but less stringent requirements to enter the training programs. A 10 Billion Training programs will allow more than 2 million unemployed or those who do not have the required skills to enter the workforce both local and overseas employment.Govt can reduce the CCT with the proposed technical training programs.

  • mdc™ me.local.now

    How difficult is it to create jobs for the poor to help them reach a notch up. From the start of the political period in this country, we always thought of helping the poor starting from the middle point of the bar. Its wrong and its been wrong for a long time, its results is always giving more to the rich as opposed to the poor. The poor and the poorest are mostly under and uneducated. The middle class if there is one in this country are mostly educated professionals or professionals with under/uneducated parents.

    The solution to inclusion is push for skills, training, help, education, from the very bottom below upwards. This is the only way to alleviate the poor of poorness and get them into the plan. Only a massive government project can handle this and thru citizen volunteers and better gov fundings for the very poor can make this work. And please, do not tell me otherwise or ask me how to get the money. Money is always there for the rich, why can’t it be rerouted to the poorest of the country, just once.

    One will ask, what kind of jobs and things can you offer the poorest from the valleys in mindanao to the southern most of luzon. What about the scavengers of manila? I say exactly, what are they? We need to teach them skills, call it targetted skills. What will you train a poor man from the south, and what about the morons in the scavenger town? What are the locals good at? That is the skills and education you need to teach them. Because they been poor and their learning knowledge already stagnated, they can only comprehend mostly what they are familiar with. That is the key. Bring those businesses and jobs in those areas coupled with skills training for those people in the same town. How hard would that be and how long would it take? Your guess is a good as mine, but not that long if you concentrate only on what they are capable of, NOT on what they will not learn.

    Of course, we do not want to create a purely educated society, what will happen if the world is full of educated only people. There will always be one uneducated and poor to get a government engaged.

    ——
    “Unfortunately, job (creation) is one of the difficult challenges everywhere in the world. What we are seeing is that this requires the constant attention of every government,” van Trotsenburg told reporters at a press conference. “The challenge everywhere is to provide good-paying jobs. This is an enormously difficult thing.” Van Trotsenburg is in the Philippines for a visit this week.

  • superpilipinas

    …but this administration is focused on “condom solutions” which are unsustainable money-pits…..like RH and CCT…nothing about creating jobs through infrastructure development and industrialization.

    it does not assess risks. if any source of big income collapses, they do not have any planned alternative.

    and to make matters at their worst, it does not want to prioritize the FOI bill/law to significantly reduce corruption and incompetence.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Korea ferry captain defends actions, bodies seen in ship
  • Traffic starts to build up at toll plazas on Black Saturday
  • Flash floods hit 9 Tagum villages
  • No tsunami to hit PH after 6.9 quake jolts Solomon Islands–Phivolcs
  • Search resumes for bodies in Everest avalanche
  • Sports

  • Hamilton takes pole at Chinese Grand Prix
  • Duke’s Rodney Hood joining Jabari Parker in NBA draft
  • Phelps entered in 3 events at comeback meet
  • Boston prepares for huge wave of marathon visitors
  • Motivated LeBron James preps for postseason
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • We treasure our Sierra Madre
  • OFW from UAE tests negative for MERS-Cov–health chief
  • Multicultural flock marks Good Friday in San Francisco
  • Las Vegas ‘Pinoy Pride’ fest hails Filipino heritage
  • Marking Jesus’ journey on Good Friday
  • Marketplace