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World Bank, IFC commit $4.2 billion to Philippines

Philippine President Benigno Aquino III, right, talks to World Bank President Dr. Jim Yong Kim, second from right, and other guests during a forum called the Daylight Dialogue: The Good Governance Challenge at the Malacanang Presidential Palace in suburban Manila, Philippines on Tuesday, July 15, 2014. AP

The World Bank said Tuesday that it and its private sector arm have committed concessional loans of up to $4.2 billion to the Philippines to help the country reduce poverty, create jobs and sustain growth as it recovers from the impact of a devastating typhoon and separatist rebellion.

Posted: July 15th, 2014 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

Emerging nations plan their own World Bank, IMF

In this Sept. 5, 2013 file photo, from left, Brazil's President Dilma Rousseff gestures to then Indian Prime Minister Manmohan Singh, Russia's President Vladimir Putin, China's President Xi Jinping and South African President Jacob Zuma, as they gather for a group photo after a BRICS leaders' meeting at the G-20 Summit in St. Petersburg, Russia. AP

Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.

Posted: July 15th, 2014 in Latest Business Stories | Read More »

WB shells out $62M more for PH

The World Bank is opening its wallets to the Philippines once more, to help the Visayas recover from the effects of Supertyphoon “Yolanda” (International name: Haiyan) which slammed into the country late last year.

Posted: July 15th, 2014 in Headlines | Read More »

PH to get $1B a year in WB aid

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The country’s fight against poverty is set to receive a major boost following the announcement of a new World Bank partnership with the Philippines that would result in more than $1 billion in aid finance every year until 2018.

Posted: June 14th, 2014 in Headlines | Read More »

World Bank extends grant to help PH reduce poverty

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The World Bank has granted the Philippines technical assistance worth $700,615 to study how the sustainable use of the country’s natural resources—specifically mangroves and minerals—could help reduce poverty.

Posted: May 30th, 2014 in Headlines | Read More »

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