World Bank OKs $750-M sustainable recovery loan

Jun 15, 2023 12:40 am

THE World Bank board has approved new financing for the Philippines in support of policy reforms aimed at improving climate protection and climate resilience.

In a statement on Wednesday, the World Bank said the $750-million Philippines First Sustainable Recovery Development Policy Loan (DPL) would reinforce reforms to encourage private investment in renewable energy, improve plastic waste management, promote green transportation and reduce climate-related financial risks in agriculture.

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