World Bank approves $1.25 billion loans for Philippines
World Bank to provide loan to repair disaster-hit schools and enhance their resilience
Image Credit: Gulf News
Manila: The World Bank said on Saturday its board of executive directors has approved $1.25 billion in loans for the Philippines' education and public infrastructure sectors.
In a statement, the World Bank said it will extend a $500 million loan for a Philippine project aiming to repair disaster-hit schools in provinces and improve their capacity to operate even after being battered by natural disasters.
The World Bank also approved a $750 million loan to support reforms that increase investment in public service infrastructure and promote renewable energy, it added.