AdvocatesTV • April 23, 2020
World Bank Approves $100M Loan for Philippines' COVID-19 Response
Photo Credit: World Bank Headquarters in Washington, D.C.
The World Bank has approved a $100 million loan to support the Philippines' fight against COVID-19.
Achim Fock, World Bank Acting Country Director for Brunei, Malaysia, Philippines and Thailand, said they are proud to support the country's efforts.
“Boosting the country's capacity to respond to COVID-19 will save lives. The government has taken quick and decisive action in the fight against the COVID-19 pandemic,” he said.
The loan will be used to support the Department of Health's COVID-19 Response Project. This endeavor will focus on improving the delivery of medical services and equipment; providing much-needed Personal Protective Equipment (PPE); and supporting the preparation of a standard design for isolation and treatment facilities.
The loan will also be used for the expansion of the Philippines' laboratory capacity at the national and sub-national levels. Among the identified beneficiaries are the Research Institute for Tropical Medicine (RITM) as well as six public health laboratories in Baguio, Cebu, Davao and Manila.
On April 9, 2020, the World Bank approved $500 million in financing for the Philippines to boost its capacity to respond and recover from disasters and other risks such as the COVID-19 pandemic.
