Tag: World Bank
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Cheaper power could unlock 161,000 jobs, World Bank says
Accelerating power sector reforms could slash electricity prices, create more than 161,000 jobs and lift about 730,000 Filipinos out of poverty by 2030, with the World Bank arguing that lower energy costs may be one of the country's biggest catalysts for faster and more inclusive economic growth.
World Bank approves P15.6B Philippine water security project
The World Bank Group has approved a USD268.6-million, or about P15.6-billion, water and sanitation project for the Philippines that is expected to create up to 46,500 jobs over the next 25 years while improving climate resilience in three island provinces.
Business groups hail upgrade, press for deeper reforms
Foreign business groups welcomed the Philippines' elevation to upper middle-income economy status as a strong endorsement of the country's economic progress, while urging the government to accelerate reforms needed to convert the milestone into sustained investment and long-term growth.
Philippines’ income upgrade boosts growth, investment prospects
The Philippines' elevation to upper-middle-income status by the World Bank is expected to strengthen investor confidence and bolster the country's appeal as an investment destination, marking a new phase of economic development while raising expectations for broader, more inclusive growth.
WB approves record $1.02B Philippine energy, water loan
The World Bank Group has approved a record USD1.02-billion financing package for the Philippines, backing reforms aimed at lowering electricity costs, strengthening water security and accelerating the country's transition to cleaner energy.
