DOF, World Bank seek faster project financing

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October 17, 2026 | 12:00am

MANILA, Philippines — The Department of Finance (DOF) and the World Bank have agreed to work together to speed up the processing of financing for development projects in the Philippines.

Finance Secretary Frederick Go met with World Bank managing director of operations Anna Bjerde to discuss the lender’s Philippine portfolio, including proposed development policy operations and catastrophe deferred drawdown options, the DOF said in a statement.

The Philippine delegation also included acting Budget Secretary Kim Robert de Leon, Department of Economy, Planning and Development (DEPDev) Undersecretary Joseph Capuno and other officials.

The meeting was held on the sidelines of the 2026 International Monetary Fund-World Bank Annual Meetings in Bangkok, Thailand.

According to the World Bank website, the International Bank for Reconstruction and Development has 21 active operations totaling $8.73 billion (around P550.4 billion) across 12 sectors in the Philippines as of end-August.

Complementing this lending portfolio, the trust fund portfolio includes 113 active grants totaling $98 million (around P6.18 billion) for technical assistance, implementation support and knowledge.

The multilateral lender is among the Philippines’ top official development assistance partners.

According to DEPDev’s ODA portfolio review, the lender supported 31 projects worth $8.5 billion (around P536 billion) in 2025.