The World Bank Bank said Friday the conditional cash transfer (CCT) program, for which the Philippine government spends a huge amount in monthly subsidies to the poor, is so far proving to be a worthy investment.
The Philippines has set an example for countries on how to effectively carry out a conditional cash transfer program that will curb extreme poverty and help out millions of people without spending too much, according to the Asian Development Bank (ADB).
Governments that are bent on implementing conditional cash transfer (CCT) schemes must work on investments in health and educational facilities to ensure the success of the program, according to the architect of Mexico’s CCT program.
The Bangko Sentral ng Pilipinas is confident that the country’s per capita income—one of the lowest among emerging Asian economies—will significantly improve and may match those of its neighbors over the medium term.
The World Bank is considering extending more funding support for the conditional cash transfer (CCT) program and other income-generation initiatives in the country after it cited the failure of the country’s economic growth to reduce poverty.
A ranking official of the International Monetary Fund said the Philippines and other emerging economies should pay close attention to the “Occupy Wall Street” movement now developing in the United States because Asia is no stranger to the problems cited by US protesters. Naoyuki Shinohara, IMF deputy managing director who was in the Philippines to [...]
MANILA, Philippines—World Bank Group president Robert B. Zoellick, who was in Manila last week, has backed proposals to expand the government’s food subsidy program for the lowest-income Filipino households, saying that economic growth should benefit the poor. Zoellick described the government’s Conditional Cash Transfer (CCT) program as a prudent safety net for poor families, especially [...]
To support the investments that two American firms have committed to make in the country’s coconut industry, replanting efforts will be linked to the Department of Social Welfare and Development’s conditional cash transfer (CCT) program. In an interview with reporters, Trade Secretary Gregory Domingo said helping in replanting efforts would be made one of the [...]
Malacañang has released P1 billion to fund a nationwide potable water supply program that is meant to benefit 100 poor towns, Budget Secretary Florencio B. Abad said Wednesday. Abad said the program is particularly aimed at areas where beneficiaries of the conditional cash transfer (CCT) program reside. The allotment “will be used to construct level [...]
Malacañang has more than enough funds for its conditional cash transfer (CCT) program, given the savings realized through sound management of the country’s debts, Finance Secretary Cesar V. Purisima said. Purisima said that from January to April, the government saved P22.4 billion from lower interest payments. “Interest payments dropped 18 percent during the period to [...]
