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World Bank lends Philippines $100 million to fight COVID-19

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2020/business/04/29/20150412-world-bank-jc-4452.jpg"/><figcaption>World Bank Headquearters, Philippines. Jonathan Cellona, ABS-CBN News</figcaption></figure></div>MANILA - The Philippines said Wednesday it secured a $100 million (P5 billion) loan from the World Bank to help it fight the COVID-19 pandemic. The loan was signed on Tuesday by Finance Secretary Carlos Dominguez III and Achim Fock, the World Bank Acting Country Director for Brunei, Malaysia, the Philippines, and Thailand, the Department of Finance said.The loan is meant to strengthen the country’s capacity to prevent, detect and respond to the threat posed by the novel coronavirus and boost its national systems for public health preparedness, the DOF said. It follows an earlier $500 million agreement signed between Dominguez and Fock that was also meant to help the government deal with the COVID-19 pandemic. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/27/20/adb-says-15-billion-loan-sufficient-to-help-philippines-fight-covid-19">ADB says $1.5 billion loan &#x27;sufficient&#x27; to help Philippines fight COVID-19</a></li>	<li><a href="https://news.abs-cbn.com/business/04/27/20/adb-approves-200-m-loan-to-philippines-for-covid-19-fight">ADB approves $200-M loan to Philippines for COVID-19 fight</a></li></ul>

The Philippines said Wednesday it secured a $100 million (P5 billion) loan from the World Bank to help it fight the COVID-19 pandemic.

The Philippines said Wednesday it secured a $100 million (P5 billion) loan from the World Bank to help it fight the COVID-19 pandemic.