Govt seals P2.6bn World Bank loan for budget support

Monday, June 14, 2021

Empty streets: Economy took a knock due to COVID-19 lockdowns. PIC. KENNEDY RAMOKONE

A statement from the World Bank says the loan is designed to strengthen COVID-19 pandemic relief while bolstering resilience to future shocks.

Government has finalised a US$250 million (P2.6 billion) loan with the World Bank to support the Economic Recovery and Transformation Programme (ERTP).

The P14.5 billion ERTP aims to lift the country out of COVID-19 induced economic weakness while transforming it along new priorities.

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